Candlestick

A type of price chart that displays the open, high, low, and close for each time period as a visual "candle" with a body and wicks. Japanese rice traders developed candlestick charting in the 18th century, and Steve Nison introduced it to Western markets in his 1991 book. Patterns like doji, hammer, engulfing, and morning star have become standard vocabulary for technical traders worldwide, though statistical evidence for their predictive power is mixed.