So true! I have often wondered the significance of the "open/close" myself. Trade a bit of crypto and you'll see: open and close are completely arbitrary! As crypto trades 24/7, there is no real open and close for the day. Days just become 24 hour cycles with no open and close of actual trading. Highs and lows are far more important to me.
Keep those candles coming. I'm self-taught so I'm sure I have much to gain, or at the very least, I can confirm what I think I know.
you've probably noticed already that every trading strategy, ever, is defined by the close price. It's always "closes above this level" etc.
in crypto and forex, any 24hr decentralised market there's no close as you said. My chart might show a daily candle as between midnight to midnight GMT, but someone in a different timezone that'll obvs be a different time, and a different looking 'close'. Also there's no gapping in 24hr markets, I'll be covering that also as most candle patterns are for stocks that gap...
You could say that in stocks though there's a defined close if the stock only trades on one market, like on the LSE or something, so a 'day' must be between 0800 and 1630. But even then some have extended hours to 2100 and a pre-market open...