Do you understand what OHLC is? With us, you can learn everything! Read on to learn about the best and most secure commodities pricing API for OHLC commodities!
An open, high, low, close (OHLC) chart is a type of stock chart that illustrates the various prices of a security during trading hours. Specifically, OHLC charts show the security’s price at market open, maximum and lowest price throughout trading hours, and price at market close each day. Data can be displayed as OHLC charts over a range of time frames, including week, month, year, and more. These diagrams are also known as OHLC diagrams.
Each day is frequently represented by a bar or line in OHLC charts. The lowest price of the day is displayed at the bottom of the line or bar, and the highest price is displayed at the top. The starting price is indicated as a line or mark on the left side of the bar. The line on the right side of the bar represents the closing price. This graphic representation of stock price increase makes determining how much a stock price changes each day easier and faster.
Money managers can use these graphs to track stock swings and uncover temporary patterns. OHLC charts are occasionally used by day traders. Throughout the day, 24-hour traders buy and sell the same stocks.
The primary goal of day trading is to profit from price volatility. Furthermore, depending on the trends indicated on the chart, investors of all types may attempt to forecast changes in stock values.
As previously stated, bar charts, also known as Open-High-Low-Close (OHLC) charts, are made up of a series of vertical lines, with the high and low points of each line (bar) representing the lowest price. The highest and lowest prices were recorded within the specified time period. Because of this, determining the ideal period on the chart to invest in the api for commodity data because of this, your desire is crucial. This is where Commodities–API can help.
What Exactly Is Commodities-API?
Commodities-API It’s a marketplace where you can buy things like oils, coffee, cereal, and sponsored data. Customers can purchase them through an API, which is set up in less than a minute after contacting banking institutions to collaborate.
How Does It Function?
Another advantage of Commodities-API is its ease of use. To accomplish this, carry out the following steps:
- I went to the website and signed up.
- On the platform, generate an API Key.
- Select the product and the currency.
- In response to an API request made in the dashboard, the software will return an API response.
Everything is in order!
Is it secure?
Commodities-API protects online communications with SSL encryption. Commercial businesses utilize this form of security. The data gathered by such a software solution is then collected from the World Bank or other financial institutions. monetary administration The connection to the Commodities-API is secured and decrypted using the 256-bit SSL privacy data/file encryption technology, which uses a 256-bit key to encode and decode text or documents.