Candlestick graph that helps in judging the movement of price at a particular point in time
Installation:
The code requires Python versions of 3.* and general libraries available through the Anaconda package. In addition, it uses:
Pandas,
Matplotlib - Style, candlestick_ohlc, mdates,
pandas_datareader,
datetime
Project Motivation :
I have always been fascinated by the stock market and wanted to understand the technical analysis via chart patterns and candlestick formations. They show the movement in prices graphically that helps predict the future pattern a stock might follow. The recognition of the pattern is subjective and programs that are used for charting have to rely on predefined rules to match the pattern. So I decided to create a small code that plots the candlesticks for any stock with its volume data to identify the trends in price and volume. High volume suggests that there is a heightened interest in the name, and if it is combined with a move higher in share price, then it is often used as a signal of strong upward momentum. Keeping an eye on volume will ensure that you are on the right side of the trade.
Instructions:
You can take the code and add your own company for which you want to prepare a chart for. The data can be directly pulled from yahoofinance using yfinance library. However I downloaded the data in a csv file and read that file. Either way is doable.
Authors, Acknowledgements:
The code was created by Vaishali Gupta. Feel free to use it for your own project.