Trading candles are important features of every exchange’s user interface that helps traders understand the market. In this article, we explain trading candles and show you how to customize them on AAX.
What is a Trading Candle?
Candlesticks are price charts and a technical analysis tool that show the highest, lowest, opening, and closing price of a cryptocurrency during a specific duration.
Its origins trace back to Japanese rice traders who used candlesticks to track market prices in the 17th century before becoming popular globally. The current version of candlesticks used in trading differs from the original style but borrows most of the fundamental principles.
Candlesticks are now used in trading cryptocurrencies, stocks, forex, and futures.
Trading Candles paint a picture of what the market looks like. It shows the high and low price of an asset and how it compares to the opening and closing price. The shape of the candles changes based on the relation between the lows, highs, opening, and closing price of the set duration.
The charts guide traders and technical analysts to determine if they want to enter or close a trade. It is also a good indicator of market sentiments on an asset.
How to Change Candle Colors on AAX
Candles usually are displayed with the colors green and red by default. Red represents a drop in price, while green represents a rise in price. Some platforms also use blue instead of green.
However, some users do not like the default colors and prefer to customize their experience. For instance, traders in China prefer to use red to indicate a rise in price instead of green.
AAX provides extensive customizing options for traders, including candle colors. You can change the candles’ color on any trading pair using the settings tab on top of the chart.
Click on the settings icon to open a pop-up window that gives you the option to make changes under the style tab.
Click on the colours next to ‘Candle’ to make changes. In this example, I will replace red with yellow, and green with blue.
Trade with AAX
AAX is the world’s first digital asset exchange to be powered by LSEG Technology. Offering OTC, spot, and futures, it provides a highly secure, deeply liquid and ultra-low latency trading environment; and a meeting point between crypto and global finance.