Building a Candlestick Chart — Storytelling with Data (Part III)
What is a Candlestick chart and how to build them in Tableau…
If you are someone who actively or even remotely follows the stock market or are into technical analysis, you might be familiar with this candlestick chart.
Or chances are you must have seen the candlestick visual on ‘Yahoo Finance’:
As interesting as it looks, there are quite a few concepts underlying this chart, one being how to read it in the first place and deduce information.
And while we will walk through how to create the candlestick chart in Tableau, we go through some basic concepts of this chart first.
1. Candlestick is a type of financial chart used to describe the price movements of a security (stock), derivate, or a currency
2. A candlestick typically shows one day, thus a month-long chart may show 20 trading days as 20 candlesticks.
3. Candlestick charts are generally used by traders to determine the possible price movement based on the past patterns.
4. Candlesticks charts…
