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What Are OHLC Commodity Prices And How To Get Them With A Data API

Do you know what OHLC is? Learn everything with us! Read this article and get to know the perfect and most secure commodities prices API for OHLC commodities!

A form of stock chart known as an open, high, low, close (OHLC) chart displays the various prices of a securities throughout trading hours. Specifically, OHLC charts display the security’s price at market opening, its highest and lowest price throughout trading hours, and its price at market closure each day. OHLC charts may display data over a variety of time frames, including week, month, year, and more. These diagrams are also referred to as OHLC diagrams.

In OHLC charts, each day is often represented by a bar or line. The cheapest cost of the day is shown at the bottom of the line or bar, and the highest price is shown at the top. On the left side of the bar, the starting price is shown as a line or mark. The closing price is shown by the line on the right side of the bar. It is simpler and faster to determine how much a stock price changes each day thanks to this graphic representation of stock cost increase.

These graphs can be used by money managers to follow stock fluctuations and identify transient patterns. Day traders occasionally employ OHLC charts. During the day, 24-hour traders purchase and sell the same stocks. Profiting from price volatility is the main objective of day trading. Additionally, depending on the tendencies depicted on the chart, investors of all sorts might attempt to estimate changes in stock values.

As we previously said, bar charts, commonly referred to as Open-High-Low-Close (OHLC) charts, are composed of a number of vertical lines, with the high and low of each line (bar) representing the lowest price. In the given time frame, the highest and lowest prices were recorded. Determining the optimal period on the chart to invest in the commodity you desire is essential because of this. This is where Commodities-API comes into action.

What Is Commodities-API?

Commodities-API it’s a platform where you may purchase products like oils, coffee, cereal, and other sponsored data. Their customers may buy them using an API, which is set up after contacting financial institutions to work together in less than a minute.

How Does It Work?

Another benefit of Commodities-API is how simple it is to use. To accomplish this, perform the following actions:

– Visited the site and sign up.  

– Create an API Key on the platform

– Choose the product and the desired currency.

– The software will provide an API answer in response to an API request you make in the dashboard.

The whole thing is prepared!

Is It Safe?

Commodities-API secures internet connections by employing SSL encryption. This type of security is used by commercial enterprises. The information obtained by such a software service is then obtained from the World Bank or financial organizations. monetary organization.  The connection to the Commodities-API API is encrypted and decrypted using the data/file encryption technique known as 256-bit SSL privacy, which uses a 256-bit key to encode and decode text or documents.

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