Explanation of volume candle colors

Technical Analysis
1

volumecandle
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Hello Fellow Traders,

I am looking for some clarification on the attached volume candle chart. Can someone help explain the significance / meaning of the 3 different colored (White body, Red body & Blue body) candles?
Thanks in advance.
Regards
PAV

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RED = A BEAR candle closing below Previous candle Close.

GREEN = A BULL candle closing above Previous candle Close.

BLUE = A BEAR candle closing above Previous candle Close.

2 Likes
3

Thank you so much. Appreciate your response!!

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I do not see the information relevant to the charts that we have today. The colors of the candles are different. So can one explain the different meanings ?

  1. Green Candle
  2. Red Candle
  3. Green Hollow Candle
  4. Red Hollow Candle
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  1. Green candle has cp < op (Bearish). Green because current cp > previous cp
  2. Red candle has cp > op (bullish). Red. because cuurent cp < previous cp
  3. Green hollow has cp > op (Bullish)
  4. Red Hollow has cp < op (Bearish)
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I think that this is wrong
Whenever CP>OP the candle is hollow
And when CP<OP the candle is filled

Colour depends upon Previous CP and Current CP

Previous cp>current cp - the candle is red
if previous cp<current cp the candle is green