The significance to traders of using candlestick charts is that they can understand more fully the underlying sentiment of the markets.
Binary Options Trading Charts, for a first time student of candlestick charting is probably fairly confusing as although just like a bar chart, the daily candlestick displays the daily low, high, open and close it also displays more information than the bar chart. A candlestick has a body which when filled (black or green) means that the daily close was higher than the daily opening, or if it is unfilled (white or red) it means that the daily close was lower than the daily opening.
Above and below the body of the candlestick are the wicks of the candle. Whilst the body shows the day’s opening and closing, the wicks or shadows as they are called, show the day’s high and low.