- Futures
- Contracts that let traders buy or sell a market (here the Nasdaq-100 stock index) at today's price, traded almost around the clock.
- NQ
- The symbol for Nasdaq-100 futures. CandleLab's practice charts are modelled on how NQ moves.
- Price
- The value at which something trades right now.
- Chart
- A picture of how price has moved over time.
- Candlestick (candle)
- A picture of what price did during one period of time.
- Timeframe
- How much time each candle covers, for example 5 minutes.
- Point
- The unit these prices are counted in. From 20,000.00 to 20,001.00 is one point.
- Tick
- The smallest step price can move. On CandleLab's charts one tick is 0.25 points.
- Price scale
- The prices along the right edge of a chart. Go straight across from any point to read its price.
- Open
- The price at the start of a candle's period.
- Close
- The price at the end of a candle's period.
- High
- The highest price reached during the candle's period.
- Low
- The lowest price reached during the candle's period.
- Body
- The thick part of a candle, between the open and the close.
- Wick
- The thin line above or below the body, showing prices reached beyond it.
- Bullish candle
- A candle that closed above its open: buyers pushed price up during that period. Drawn green. It describes that one candle only.
- Bearish candle
- A candle that closed below its open: sellers pushed price down during that period. Drawn red. It describes that one candle only.
- Doji
- A candle whose open and close are exactly the same price. Nearly equal still counts as a direction in CandleLab.
- High (peak)
- The top of a move, where price turns from rising to falling.
- Low (valley)
- The bottom of a move, where price turns from falling to rising.
- Turning point
- A place where price changes direction. In CandleLab: an up candle followed by a down candle (a high), or the reverse (a low).
- Swing
- One wave of price: a move up or a move down, from one turn to the next.
- Swing high
- The top of a wave. In CandleLab: a high above the highs of the 2 candles before it and the 2 after it.
- Swing low
- The bottom of a wave. In CandleLab: a low below the lows of the 2 candles before it and the 2 after it.
- Confirmation
- Having enough finished candles to say a pattern is really there. A swing is confirmed when the 2nd candle after it closes.
- Equal highs / lows (EH / EL)
- Two highs (or two lows) at exactly the same price, to the tick. Even one tick apart isn't equal.
Words from later modules appear here once you reach them.