How can I use candlestick charts?
Summary:
Candlestick charts give you a detailed view of price movements. You can use them to analyze market sentiment, spot patterns, and make informed trading decisions.
Introduction
A candlestick chart is a visual representation of price action. Each candlestick shows:
- The opening and closing price (the body)
- The highest and lowest price within the timeframe (the wicks)
The candlestick chart gives a more precise overview of the price compared to the line chart, which uses averages.
Step 1: View candlestick charts
Click the buttons below to see how to use candlestick charts in the Bitvavo app or the advanced panel:
App
Go to the relevant asset and switch from the line chart to the candlestick view:
- Switch between line chart and candlestick chart.
- Opening price of the selected candlestick.
- Highest price of the selected candlestick.
- Lowest price of the selected candlestick.
- Closing price of the selected candlestick.
- More info button.
- Lowest price in the selected timeframe.
- Highest price in the selected timeframe.
Candlestick charts in the app are available for timeframes of 1 hour, 1 day, 7 days, 30 days, and 2 months. The dotted line shows which candlestick you have selected.
Advanced panel
Select "Candles" to view candlestick charts:
Hover your mouse over a candlestick to view detailed information for that specific timeframe.
Example view
FAQ
What timeframes are available for candlestick charts in the app?
In the Bitvavo app, candlestick charts are available for 1 hour, 1 day, 7 days, 30 days, and 2 months.
How can I switch between line and candlestick charts?
In the app, tap the chart view option and select candlesticks. In the advanced panel, select "Candles" from the chart type menu.
What information does each candlestick show?
Each candlestick shows the opening and closing price (body), and the highest and lowest price within the selected timeframe (wicks).
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