The historical data of a financial instrument can be analyzed in the form of Japanese candlesticks pattern with varying candle intervals. Brokers typically support candle intervals of 1 minute, 3 minutes, 5 minutes, 10 minutes, 15 minutes, 30 minutes, 1 hour, 1 day, and so on. A shorter candle interval hints at a localized price movement trend, while a larger candle interval indicates an overall price movement trend. Depending on the algorithmic trading strategy, you may need a shorter candle interval or a larger one. A candle interval of 1 minute is often the smallest available candle interval. This recipe demonstrates the historical data of a financial instrument for a duration of a day in various candle intervals.
Getting ready
Make sure the broker_connection object is available in your Python namespace. Refer to the Technical requirements section of this chapter to learn how to set up broker_connection.
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