Enhanced Candlestick Charting with Time-Positioned Wicks
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Solution Overview
Problem
Existing charting systems fail to provide timely and visually accurate information on when high and low prices occurred during a time period, as they are configured to receive OHLC data without specifying time, leading to inaccurate drawing of candlesticks and bar charts.
Innovation Solution
The system generates enhanced candlesticks and bar charts with separate upper and lower price bars that widen proportionally to the time period, allowing for the tilting or shifting of wicks to indicate when high and low prices occurred, without relying on additional graphical indicators.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If conventional candlestick charts are used with centerline wicks, then the chart structure remains simple, but the information about when high and low prices occurred is lost
Solution Approach 1:
The single centerline wick is segmented into separate upper and lower wicks that extend from the top and bottom of the candle body respectively. This segmentation allows each wick to independently indicate the timing of high and low prices without requiring additional graphical elements, thus resolving the contradiction between information completeness and structural simplicity
Solution Approach 2:
The upper and lower wicks are positioned asymmetrically relative to the candle body based on the timing of high and low prices during the time period. This local quality variation encodes temporal information in the spatial arrangement of chart elements, maintaining visual simplicity while conveying additional information
2Measurement precision
If additional graphical indicators are added to show timing of high and low prices, then information accuracy improves, but chart complexity increases
Solution Approach 1:
The timing information for high and low prices is merged into the existing wick structure by extending upper and lower wicks from the candle body. This combines multiple functions (showing price range and timing) into a single graphical element, achieving measurement precision without increasing overall chart complexity
Solution Approach 2:
Temporal information is encoded in the vertical dimension of the chart by extending wicks to specific price levels. This uses the existing vertical axis to convey timing information, avoiding the need for additional graphical indicators in horizontal or temporal dimensions
3Manufacturing precision
If OHLC data is received without time specification, then data processing is simple, but the drawn candlesticks are inaccurate
Solution Approach 1:
The system performs preliminary processing of OHLC data to determine the timing of high and low prices before generating the candlestick chart. This advance preparation ensures accurate positioning of upper and lower wicks without adding complexity to the actual drawing process
Solution Approach 2:
An intermediate data structure is created that maps OHLC price levels to their corresponding timing information. This intermediary representation enables accurate candlestick drawing by providing both price and temporal information in a format suitable for graphical rendering
Data Source
AI summary
A method for generating a data structure, the data structure being used to generate an HLC or OHLC type symbol, the method includes receiving a plurality of prices, each price corresponding to a unique time within a time period, determining, from the received plurality of the prices, an open price corresponding to a start of the time period, a highest price corresponding to a first time within the time period, a lowest price corresponding to a second time within the time period, and a close price corresponding to an end of the time period, calculating a highest symbol position value indicating when the first time occurred between the start of the time period and the end of the time period, calculating a lowest symbol position value indicating when the second time occurred between the start of the time period and the end of the time period, and storing the time period, the open price, the highest price, the lowest price, the close price, the highest symbol position value, and the lowest symbol position value in association with one another in the data structure on a non-transitory computer readable medium.