Candle body: definition and what it measures
In candlestick charting, a candle body is the part of the candlestick between the opening price and the closing price for a specific time period. The upper wick (if present) reaches up to the period’s high, and the lower wick reaches down to the period’s low, but those are separate from the body.
So, the candle body answers a simple question: how large was the net move from open to close during that period?
- If close > open, the body is typically drawn as a bullish (often filled or colored) candle.
- If close < open, the body is bearish.
- If close = open, the body height is zero (a doji-like situation), even if the wicks are long.
How a worked example works (explicit assumptions)
Below is a worked, numerical example that uses only stable mechanics of measurement.
Assumptions
- We choose one candle tied to one fixed time period (for example, one hour). The exact time frame does not change the measurement method.
- We use a chart where the opening and closing prices for that candle are known.
- We compute candle body size in two ways: absolute points (close − open) and percent change (close − open) / open.
- We assume prices are positive and denominated consistently (no currency conversion is needed for the arithmetic).
Given values (single candle)
- Open = 1.2000
- Close = 1.2060
Step-by-step calculations
1) Absolute candle body (points)
- Body size = Close − Open
- Body size = 1.2060 − 1.2000 = 0.0060
2) Percent body change
- Percent change = (Close − Open) / Open
- Percent change = 0.0060 / 1.2000 = 0.005 = 0.5%
3) Direction interpretation (sign only)
- Since close > open, the candle body represents a net upward move over the period.
Optional comparison example (same open, weaker close)
If instead Close = 1.2020 with the same Open = 1.2000:
- Absolute body = 1.2020 − 1.2000 = 0.0020
- Percent body change = 0.0020 / 1.2000 = 0.1667%
Both candles are “up” by the sign (close above open), but the body magnitude differs, meaning the net open-to-close movement was smaller in the second case.
Limitations and failure modes of using candle body size
Candle body size is a measurement, not an explanation, and it has material limitations.
1) It depends on the time period
A body calculated over one hour can differ from the body calculated over five minutes because open and close change with the chosen interval. Therefore, “large body” is not universally comparable unless you keep the time frame consistent.
2) It is silent about intraperiod path
Two candles can have the same open and close (same body size) while the price moved wildly in between. Wicks show extremes, but even considering both, you still do not get a guarantee about why the move happened.
3) Provider and charting differences can change displayed numbers
Different platforms, data feeds, or symbols can lead to differences in displayed open/close values, especially around session boundaries or corporate/event adjustments for some instruments. That means your computed body size must be based on the exact data your chart is using.
4) Body size alone does not establish future outcomes
Historical relationships can fail, and a candle body does not provide causal evidence. Market conditions, costs (such as spreads and commissions), and execution timing can all affect what happens next, even if the body size appears “strong.” Outcomes vary with these factors.
How to verify the concept independently
To verify candle body mechanics yourself:
- Pick any single candle on your own chart.
- Read its open and close values from the chart details.
- Compute body size as Close − Open and, if desired, percent as (Close − Open) / Open.
- Confirm the sign matches the candle coloration (if your chart uses standard conventions).
If your computed body does not match the chart’s notion of candle body height, the most likely causes are different time frames, rounding/decimal display, or the platform’s data handling. You can then repeat the calculation using the platform’s exact open/close values for the same candle.