candlestick open = close

Persson121 · Jun 25, 2012, 8:47pm

Hi.

Just wondering something about candlestick.

If i made a daily chart of candlesticks. Open-High-Low-Close.
Isin't the close-value = the open-value next day?
Example.

Code:

Date	       Open       High         Low         Close
2002-06-25	121.68	    122	        121.37	121.53
2002-06-26	121.53	    121.9	118.95	121.71
2002-06-27	121.71	    120.3	119.19	119.41
2002-06-28	119.41	    120.36	118.36	119.47
etc

wackypete2 · Jun 25, 2012, 8:51pm

Quote:

Originally Posted by Persson121

Hi.

Just wondering something about candlestick.

If i made a daily chart of candlesticks. Open-High-Low-Close.
Isin't the close-value = the open-value next day?
Example.

PHP Code:

  Date                   Open                 High     Low              Close

2002-06-25    121.68            122            121.37    [B]121.53[/B]

2002-06-26    [B]121.53[/B]    121.9    118.95    [B]121.71[/B]

2002-06-27    [B]121.71[/B]    120.3    119.19    [B]119.41[/B]

2002-06-28    [B]119.41[/B]    120.36    118.36    119.47

etc

NO.
It CAN be, but rarely is. 2 different prints at 2 different points in time.

Peter

Persson121 · Jun 25, 2012, 9:42pm

But think that May 1 starts at 100. High is 105 and low is 95 and close is 101. Next day at May 2, the start is 101 and low is 94 and high is 120 and close is 102. Then May 3 start is 102 etc...

May 2 cannot start at 104 beacuse close at the closing is 101. Also start should be exactly the same as close from the next day IF.....we made daily charts in candlesticks.

wackypete2 · Jun 25, 2012, 10:01pm

EVERY daily candle has an OPEN, HIGH, LOW, CLOSE (OHLC)
Open a chart, set it up as daily candles and look at the close of one day and the open the next day.
They are 2 different days, 2 different points in time, the OHLC is relative to THAT candle only.
Better yet check the close of a Friday candle and see that is is not the same as the open of a Monday candle.

Peter

NVP · Jun 26, 2012, 3:22am

and cant they Gap pete ?

barjon · Jun 26, 2012, 4:44am

It can all get a bit confusing.

For UK equities, for example, it's general from most providers that the close is the "official" close mid-price (set after the post market auction period) and the open the "official" opening mid-price (set after the pre-market auction period). Hence gap openings.

For the FTSE index the official rule is that yesterday's close = today's open. Some providers stick by that (hence no gap opening), whilst others try to reflect the trading reality by taking the FTSE value a minute or so after the open. Hence a gap opening usually).

Persson121 · Jun 26, 2012, 7:14am

.

Jun 25, 2012, 8:47pm	#1
Persson121 Junior Member Member Since Dec 2011 46 Posts	candlestick open = close Hi. Just wondering something about candlestick. If i made a daily chart of candlesticks. Open-High-Low-Close. Isin't the close-value = the open-value next day? Example. Code: Date Open High Low Close 2002-06-25 121.68 122 121.37 121.53 2002-06-26 121.53 121.9 118.95 121.71 2002-06-27 121.71 120.3 119.19 119.41 2002-06-28 119.41 120.36 118.36 119.47 etc

Jun 25, 2012, 9:42pm	#3
Persson121 Junior Member Member Since Dec 2011 46 Posts	Re: candlestick open = close But think that May 1 starts at 100. High is 105 and low is 95 and close is 101. Next day at May 2, the start is 101 and low is 94 and high is 120 and close is 102. Then May 3 start is 102 etc... May 2 cannot start at 104 beacuse close at the closing is 101. Also start should be exactly the same as close from the next day IF.....we made daily charts in candlesticks.

Jun 25, 2012, 10:01pm	#4
wackypete2 Legendary Member Member Since Sep 2008 8,958 Posts	Re: candlestick open = close EVERY daily candle has an OPEN, HIGH, LOW, CLOSE (OHLC) Open a chart, set it up as daily candles and look at the close of one day and the open the next day. They are 2 different days, 2 different points in time, the OHLC is relative to THAT candle only. Better yet check the close of a Friday candle and see that is is not the same as the open of a Monday candle. Peter __________________ ************************************************ ***************** I'm not into Fundamentals. I'd trade anything for T & A ********************************************** *******************

Jun 26, 2012, 3:22am	#5
NVP Legendary Member Member Since Jun 2004 11,898 Posts	Re: candlestick open = close and cant they Gap pete ? __________________ The FXCorrelator - My Indicator & simple system :- http://www.trade2win.com/boards/fore...ml#post1862498 The FXCorrelator_Goldmeter:-http://www.trade2win.com/boards/fore...ml#post1960456 Trading Exotics:-http://www.trade2win.com/boards/fore...ml#post1962866

Jun 26, 2012, 4:44am	#6
barjon Legendary Member Member Since May 2003 7,380 Posts	Re: candlestick open = close It can all get a bit confusing. For UK equities, for example, it's general from most providers that the close is the "official" close mid-price (set after the post market auction period) and the open the "official" opening mid-price (set after the pre-market auction period). Hence gap openings. For the FTSE index the official rule is that yesterday's close = today's open. Some providers stick by that (hence no gap opening), whilst others try to reflect the trading reality by taking the FTSE value a minute or so after the open. Hence a gap opening usually).

Jun 26, 2012, 7:14am	#7
Persson121 Junior Member Member Since Dec 2011 46 Posts	Re: candlestick open = close .

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