Store financial tick data in TimescaleDB using the OHLCV (candlestick) format

Candlestick charts are the standard way to analyze the price changes of financial assets. They can be used to examine trends in stock prices, cryptocurrency prices, or even NFT prices. To generate candlestick charts, you need candlestick data in the OHLCV format. That is, you need the Open, High, Low, Close, and Volume data for some financial assets.

This tutorial shows you how to efficiently store raw financial tick data, create different candlestick views, and query aggregated data in TimescaleDB using the OHLCV format. It also shows you how to download sample data containing real-world crypto tick transactions for cryptocurrencies like BTC, ETH, and other popular assets.

Prerequisites

Before you begin, make sure you have:

  • A TimescaleDB instance running locally or on the cloud. For more information, see installation options
  • psql, DBeaver, or any other PostgreSQL client

What's candlestick data and OHLCV?

Candlestick charts are used in the financial sector to visualize the price change of an asset. Each candlestick represents a time frame (for example, 1 minute, 5 minutes, 1 hour, or similar) and shows how the asset's price changed during that time.

Candlestick charts are generated from candlestick data, which is the collection of data points used in the chart. This is often abbreviated as OHLCV (open-high-low-close-volume):

  • Open: opening price
  • High: highest price
  • Low: lowest price
  • Close: closing price
  • Volume: volume of transactions

These data points correspond to the bucket of time covered by the candlestick. For example, a 1-minute candlestick would need the open and close prices for that minute.

Many Timescale community members use TimescaleDB to store and analyze candlestick data. Here are some examples:

Follow this tutorial and see how to set up your TimescaleDB database to consume real-time tick or aggregated financial data and generate candlestick views efficiently.

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