The historical data of a financial instrument is an array of candlesticks. Each entry in the historical data is a single candlestick. There are various types of candlestick patterns.
This recipe demonstrates the most commonly used candlestick pattern – the Japanese candlestick pattern. It is a type of candlestick pattern where each candlestick holds a duration and indicates all the prices the instrument would have taken on during that duration. This data is represented using four parameters – Open, High, Low, and Close. These can be described as follows:
- Open: The price of the financial instrument at the beginning of the candle's duration
- High: The highest recorded price of the financial instrument during the entire duration of the candle
- Low: The lowest recorded price of the financial instrument during the entire duration of the candle
- Close: The price of the financial instrument at the end of...
