Why is a there a difference in the color of candles on hollow charts and candle charts?
The color and the filling of a hollow candle chart is different from a normal candle chart.
The color of the candle is decided based on the following criteria:
1. If the previous day’s closing value is less than or equal to the closing value for the current day, current day’s candlestick in green.
2. If the previous day’s closing value is higher than the closing value for the current day, current day’s candlestick in red.
And hollow and filled bar is decided:
1. If the close was less than the open, you would get a filled candlestick
2. If the close was higher than the open, you would get a hollow candlestick.
Learn more about various chart types in this chapter on Varsity