Chart Candles and Candle Patterns

Chart Candles represent price movements within a specific time period on a candlestick chart. Each candlestick typically consists of four components:

1. Open: The price at which the asset was first traded during the time period.

2. Close: The price at which the asset was last traded at the end of the time period.

3. High: The highest price reached during the period.

4. Low: The lowest price reached during the period.

The body of the candle (the area between the open and close) is typically shaded to show whether the price increased (bullish) or decreased (bearish). The lines extending above and below the body, known as wicks or shadows, indicate the high and low prices during the period.

In the upper left section of your MT5 terminal, you will find three types of candle patterns. You can change the candle shape according to your preference.