Candlestick chart

A candlestick chart is a financial visualization tool illustrating the price fluctuations of assets such as securities, derivatives, or currencies. Each "candlestick" corresponds to a defined time interval (e.g., minute, hour, day) and conveys four critical data points for that period: the opening price, closing price, highest price, and lowest price. This charting method is widely employed in financial analysis to monitor market trends and inform investment decisions. The Candlestick is popular in analyzing financial aspects due to its ability to visualize a lot of data quickly and effectively, helping traders make more informed decisions.

Best Situations to Use Candlestick Charts

• Analyzing Market Sentiment: Candlestick charts reveal whether buyers or sellers dominate the market during a specific period, making it easier to gauge sentiment.

• Identifying Reversal Patterns: Traders use them to spot patterns like Doji, Hammer, or Engulfing patterns, which suggest potential trend reversals.

• Short-Term Trading: Candlestick charts are ideal for day trading or swing trading since they provide detailed visual information on market action over shorter time frames.

• Support and Resistance Levels: Candlestick charts make it easier to identify critical price levels where the market has consistently reversed or consolidated.

Check out the illustration on using the Candlestick chart properties.

Candlestilck chart properties

Properties of the Candlestick Chart

General Settings

The Properties fields provided under the General Settings help the users to configure various chart-related settings.

• Order

  • Defines how data is sorted on the chart.

  • Options include: None (default), Ascending, or Descending.

  • Useful for adjusting the sequence of time intervals or price data.

• Exclude Global Filter

  • Excludes this chart from global filters applied across the report or dashboard.

  • Helpful when you want a Candlestick chart to always show the full dataset, regardless of filters applied elsewhere.

• Rise Color

  • Specifies the color used to represent rising candlesticks (where the closing price is higher than the opening price).

  • Commonly set to green or blue for positive market sentiment.

• Decline Color

  • Specifies the color used to represent declining candlesticks (where the closing price is lower than the opening price).

  • Commonly set to red or dark tones to indicate negative sentiment.

• Stroke Color

  • Defines the outline (border) color of candlesticks.

  • Enhances visual clarity, especially when candlesticks are plotted closely together.

  • Often set to a neutral color like black or gray.

• Exclude Global Filter – Enable this option to exclude the Candlestick chart from report-level global filters

View Filter

• Filter: Select a filter option using the drop-down menu.

Category Axis

The Category Axis consists of several crucial properties for the chart's X-axis.

• Title: Define the title for the axis to provide context.

• Axis Label: Customize the labels on the axis to improve the readability of the data points.

• Label Angle: Adjust the angle of labels to enhance space usage and readability.

Primary Value Axis

The Primary Value Axis provides essential controls for the Y-axis of the chart.

• Title: Set a descriptive title for the axis to provide context to viewers.

• Axis Label: Customize the labels on the axis for clarity and a better understanding of data values.

• Format Type: Select a desired format type from the drop-down menu (the provided options for this field are: None, Auto, Percent, Thousand, Lacs, Crore, Million, Billion, Trillion, Quadrillion).

• Currency Type: Select a currency symbol to be displayed in the view (the provided options for this field are: None, Rupees, Euro, Pound, USD, Yen, Cent).

• Precision: Set the after-decimal value (It displays up to 5 precision).

Insights

• Text: Provide any information regarding the chart. If any digit or character is required to be highlighted, put it inside two asterisks. (E.g., *70%* or *skills*).

• Font Size: Set/modify the Font Size of the Insights text.

• Font Color: Select a Font color for the Insights Text.

• Text align: There are three alignments to align the text.

  • Left

  • Right

  • Centre

• Position: There are two options to position the text.

  • Bottom

  • Right

  

Modified View after Applying Various Properties