Robinhood App to Integrate Candlestick Charts
Commission-free cryptocurrency exchange Robinhood App is set to add candlestick charts to “better inform” users on cryptocurrencies’ data.
Californian crypto exchange Robinhood has announced on 4 September it will soon integrate the candlestick chart option- a tool used to track price activity, in this case of 16 supported crypto assets as well as other related offers, a representative reported.
Here’s what she told CoinDesk:
“Candlestick charts help investors better understand how prices move. They show the open, high, low, and close price during a given time frame, and how volatile the price has been, while a line chart only displays the close price. With this information, investors can also determine how volatile the price has been.”
What is a candlestick chart?
A candlestick chart shows the price activity of a currency registered for a specified period. Its main elements are: “the open, close, high and low.”
The “open” part is the level associated with the currency price when the trading period starts, while the “close” one shows the value when the trading timeframe is completed. Regarding the “high” and “low” components, these represent the maximum and minimum prices recorded during the trading period.
A high rate of interest
The announcement comes as a result of “daily” requests from users, the spokesperson claimed- “our customer support team has received 1-2 tickets from customers per day, on average.”
“Bringing this feature to Robinhood will significantly improve the customer experience and help investors make better-informed decisions. This is in line with our mission to provide investors with the best financial products at the lowest cost,” she added.
Robinhood boasts positive notoriety among crypto traders, especially due to the launch of its no-fee cryptocurrency exchange- Robinhood App, back in January 2018. Over “1 million customers signed up for early access in the first five days following the announcement.” Currently, Robinhood App registers over 5 million traders.