Book Image

Learning jqPlot

By : Scott Gottreu
Book Image

Learning jqPlot

By: Scott Gottreu

Overview of this book

Table of Contents (19 chapters)
Learning jqPlot
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

Explaining candlestick charts


"Does this make sense so far?", Bob asks. We nod and he continues. "Candlestick charts are modifications of OHLC charts. Here's an interesting trivia tidbit. Candlestick charts were created in Japan in the mid-1800s to help with the rice trade." He pauses and then turns to the whiteboard and begins drawing again.

"These charts also have a vertical line showing the high and low prices. However, instead of using ticks on each side to denote the opening and closing prices, they have a bar called the body overlaid on the line. The body extends from the opening price to the closing price."

"The parts of the line extending above and below the body are called the shadows. Sometimes, they are also called the wick and tail, hence the name candlestick. When the closing price is below the opening price, the body is filled in. If the closing price is higher than the opening price, the body is empty." Bob finishes his two diagrams as shown in the following figure:

"This should...