OHLC Pro | Syed

yesterdayOHLC stands for Open, High, Low, and Close, which are four key data points used to describe the price action of a security during a specific time period, such as a day, week, or minute. This information is crucial for traders and analysts as it gives insight into market sentiment and price trends.

Here’s a breakdown of each component:

1. Open
Definition: The first price at which a security is traded when the market opens for the period in question.
Importance:
Indicates where the price started for the given time frame.
Helps to understand the initial market sentiment at the beginning of the period.
2. High
Definition: The highest price at which the security was traded during the period.
Importance:
Shows the maximum price buyers were willing to pay for the security.
Useful for setting resistance levels, where prices may have difficulty moving higher.
3. Low
Definition: The lowest price at which the security was traded during the period.
Importance:
Represents the minimum price sellers were willing to accept.
Can help in identifying support levels, where the price tends to find a bottom.
4. Close
Definition: The last price at which the security was traded during the period.
Importance:
Arguably the most important price as it reflects where the market closed for the period.
It’s a key indicator of the sentiment at the end of the period. If the close is near the high, buyers are in control; if it’s near the low, sellers dominate.