Create Candlestick Charts in Google Sheets: Easy Guide for Business Analysis

In all cases, the values displayed by the candle (low, high, open, close) are based on the period that the candle describes. A Candlestick chart includes a rectangle with a dividing long line projecting from the top and bottom (of the same rectangle), which displays the high and low values. This chart type is also useful to show the opening and closing price points in trading scenarios. So, when the open value is greater than the close value, the rectangle appears filled with the color of the background.

So, download the above candlestick patterns cheat sheet and go through it thoroughly. Now that you have the best candlestick patterns cheat sheet, you’re one step closer to kickstarting your trading journey in 2025. The Evening Doji Star includes a long bullish candle, followed by a doji that gaps up, and then a long bearish candle that closes well into the body of the first bullish candle. In this section, I explain the process for creating a candlestick chart with Excel, from finding and entering the data to building the chart.

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Candlestick Plot Properties

I’m passionate about statistics, machine learning, and data visualization and I created Statology to be a resource for both students and teachers alike. My goal with this site is to help you learn statistics through using simple terms, plenty of real-world examples, and helpful illustrations. A market analyst and member of the Research Team for the Arab region at XS.com, with diplomas in business management and market economics. Since 2006, she has specialized in technical, fundamental, and economic analysis of financial markets. Known for her economic reports and analyses, she covers financial assets, market news, and company evaluations. She has managed finance departments in brokerage firms, supervised master’s theses, and developed professional analysis tools.

In some cases, color is also used to distinguish these cases (green vs. red, typically). If you candlestick chart excel want to know and understand more about candlestick patterns, check out these 51 types of candlestick patterns. Finally, a second bearish candle closes below the low of the first bullish candle. Then, a smaller bearish candle forms within the body of the bullish candle. Next, a smaller bullish candle forms within the body of the bearish candle.

How to Trade with Candlestick Charts

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2. If you have a specific question about code that you’re working on, please come back and ask.
3. CQG offers exclusive TFlow® charts that show the inside market.
4. Candlestick patterns are visual representations of assets’ price fluctuations in forex trading.
5. Nathalie combines analytical thinking with a passion for writing to make complex financial topics accessible and engaging for readers.
6. I would like these charts to be in a printable format after they have been created.

And frankly, charts can be beautiful, but still make it easy to grasp the bigger picture while capturing all of the finer detail. Some useful packages you should look into are Pandas, MatPlotLib, and xlrd. If you have a specific question about code that you’re working on, please come back and ask. Take O’Reilly with you and learn anywhere, anytime on your phone and tablet. Our videos are quick, clean, and to the point, so you can learn Excel in less time, and easily review key topics when needed. Press the Select Chart Style button, and select the Candle style.

Sync data from your CRM, database, ads platforms, and more into Google Sheets in just a few clicks. And, use AI to write formulas and SQL, or build charts and pivots. Tired of spending endless hours manually pushing and pulling data into Google Sheets? Say goodbye to repetitive tasks and hello to efficiency with Coefficient, the leading spreadsheet automation tool trusted by over 350,000 professionals worldwide. Dive in for free with a 10-day trial of the O’Reilly learning platform—then explore all the other resources our members count on to build skills and solve problems every day. Continue to follow NewTraderU.com because soon you will find a mini-guide on how to create moving averages (and the related cross) on Excel.

Exponentially Increase Your Chances of a Promotion, Pay Raise or New Job! Then this should be followed by a Open, High, Low, and Close column. This is the exact order that needs to be followed in order to create the Candlestick Chart. You can see how the Candlestick graph can easily convey a lot of information. You can compare the High, Low, Open, and Close prices at a glance, allowing you to identify the daily volatility. Introduction to Statistics is our premier online video course that teaches you all of the topics covered in introductory statistics.

The Tweezer Top pattern is formed by two or more candlesticks with matching highs, indicating strong resistance and a potential bearish reversal. Candlestick charts are an essential tool for business operations teams in B2B SaaS companies. By following this guide, you can effectively use Google Sheets to visualize financial data, aiding in strategic decision-making. Double click on a bullish candle (white) (point 1) and from the window that opens on your right click on “Color” (point 2) and choose the green (or one you prefer). Repeat the same procedure for bearish (black) candles and select the red color.

Trading and investment carry a high level of risk, and CQG, Inc. does not make any recommendations for buying or selling any financial instruments. The opinions expressed here are solely those of the author and do not reflect the opinions of CQG, Inc. or its affiliates. Once you have done that, you will be able to proceed to the Visualization Recommender, which will get you started creating a dashboard. To start with a Candle chart, though, you can skip the Recommender by pressing the Finish button at the top bar of the Recommender. To observe the structure of the chart more closely, use the ‘Zoom Chart’ button to view a more limited date range, or add Date filters to the dashboard, as show below. The Chart Editor now provides binding regions for ‘High’, ‘Close’, ‘Open’, and ‘Low’.

Related chart types

I even clue you in on a few ways to add some additional information to your Excel candlestick charts, including moving averages, trendlines, and volume data. It starts with a long bullish candle, followed by a small-bodied candle that gaps up, and then a long bearish candle that closes well into the body of the first bullish candle. It features a bearish candle, followed by a doji that gaps below the previous candle, and then a bullish candle that gaps up and closes above the midpoint of the first candle. So, from rice trading in 18th-century Japan to global financial markets today, candlestick charts have come a long way.

1. This indicator, characterized by a small body and a long lower shadow, indicates a potential reversal from a downtrend to an uptrend.
2. The Shooting Star’s small body and long upper shadow indicate a potential reversal to the downside.
3. They represent the Open, High, Low and Close values of the stock for the day or the period.
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5. If the asset price closes higher than it opens (referred to as “Bullish”), the wax part of the candlestick will not be filled in.

Please read more on StockHistory function and how we use to extract the price history of a stock or currency. We create short videos, and clear examples of formulas, functions, pivot tables, conditional formatting, and charts. Size the chart as desired and use the Setup tab to assign the correct columns to the Chart Editor’s X-axis, Low, Open, Close, and High properties. Press the Edit Measure button next to each measure field, and choose Max for ‘High’, Min for ‘Low’, First for ‘Open’, and Last for ‘Close’. To create a Candle Chart in InetSoft, drag a Chart component from the Toolbox panel into a dashboard in Visual Composer, and then press the Edit button to open the Chart Editor.