OHLC Chart Wick Timing Encoding
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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 and inaccurately draw vertical lines, leading to a lack of specific information on price fluctuations.
Innovation Solution
The system generates enhanced candlestick and OHLC/HLC 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, and enables the display of multiple wicks and bars to depict price movements accurately.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If conventional OHLC data is displayed using traditional vertical lines and candlesticks, then the chart structure remains simple, but the timing information of high and low prices is lost or inaccurate
Solution Approach 1:
The patent segments the traditional single vertical line into multiple components: a main vertical line showing the price range, and separate wicks extending from specific points along the line. Each wick represents a distinct price event (high or low) occurring at a specific time, thereby preserving timing information that was previously lost in the conventional OHLC representation.
Solution Approach 2:
The patent adds a temporal dimension to the price representation by positioning wicks at different heights along the vertical line corresponding to when the high or low prices occurred during the time period. This transforms the flat 2D OHLC chart into a representation that encodes three dimensions of information (price range, timing, and price level) without requiring additional axes.
2Duration of action of moving object
If the time period is extended to show longer historical data, then more price movements are visible, but the timing precision of high and low prices deteriorates
Solution Approach 1:
By segmenting the price representation into multiple wicks rather than a single aggregated line, the patent maintains timing precision even over extended periods. Each wick independently marks the exact timing of its corresponding price extreme, preventing the loss of temporal resolution that occurs when compressing long time periods into traditional OHLC formats.
Solution Approach 2:
The patent applies local quality by allowing different portions of the chart to have different levels of detail. Within each time period, the specific timing of high and low prices is preserved through separately positioned wicks, while the overall chart can span extended periods. This local preservation of timing information maintains measurement precision regardless of the total duration covered.
3Loss of information
If additional graphical indicators are added to show timing of high and low prices, then information completeness improves, but visual clarity and ease of interpretation deteriorates
Solution Approach 1:
The patent merges the timing information with the existing price representation by integrating wicks directly into the vertical line structure. Rather than adding separate indicators that would clutter the chart, the timing data is combined with the price level display, allowing viewers to interpret both pieces of information simultaneously from a single visual element.
Solution Approach 2:
By encoding timing information in the vertical position of wicks along the price axis, the patent adds temporal data without requiring additional horizontal or temporal axes. This dimensional encoding allows complete information representation while maintaining visual simplicity, as the chart retains its traditional layout but conveys more meaning through the spatial arrangement of wicks.
Data Source
AI summary
A method of displaying an HLL (high, low, last) type symbol representative of changes in price during a time period in which a highest price occurred at a first time within the time period, and a lowest price occurred at a second time within the time period, the method includes receiving a last price corresponding to a third time within the time period, comparing the last price to the highest price and the lowest price, in response to the comparing step, updating the highest price with the last price and updating the highest price to correspond to the third time if the last price is greater than or equal to the highest price and updating the lowest price with the last price and updating the lowest price to correspond to the third time if the last price is less than or equal to the lowest price, generating, by a charting engine, the HLL type symbol by drawing a spatiotemporal relationship between the highest price, the lowest price, and the last price in accordance with a selected symbol rendering method, wherein a height of the HLL type symbol indicates a difference between the highest price and the lowest price and a width of the HLL type symbol indicates a difference between the third time and an earlier of when the highest price occurred and the lowest price occurred, and displaying, by the charting engine, the generated HLL type symbol at a particular position.