HighSky Brokers, a.s.
Vodičkova 710/31
110 00 Prague 1
phone: +420 222 767 100
fax: +420 222 767 101
email: office@highsky.com
Please feel free to visit us on any working day from 9:00 am till 6:00 pm
Select department
Responsible for contacts with everyone interested in financial markets
phone: +420 222 767 102
email: sales@highsky.com
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print Candlestick charts Candlestick charts are popular amongst traders, as they deliver a quick insight into the situation on a market - maximum amount of information in a clear way
Rule of thumb
With candles a trader is able to make decisions quicker because of their unique visual cues
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Candlestick charts began their history in Japan, and are probably one of the oldest types of charts, but at the same time one of the most popular. They are somewhat similar to bar charts, however colours differentiate a price increase from a price decrease.
As with a bar chart, candles have one major vertical bar, representing a time unit (e.g. 1, 5, 10 minutes), but instead of having notches on the right and left hand sides, there is a body for which the inside colour depends on a price change. Its increase usually is represented by the colour white or blue, when its decrease is represented by the colours black or red.
Candlestick shadows or wicks represent the lower and maximum price level for a specified time unit, and are thinner than the body. Therefore, candles stress out how a close price relates to an open price.
How to use it with MetaTrader 5:
- Press the Candlestick chart button.
- Select “ Candlestick chart” from the “Charts” menu.
- Alternatively you one choose to press “Alt” + “2”