The Weekly or 1W represents data from the past 7 days plotted as a single data point.
In crypto trading, and charting specifically, the weekly time frame is commonly used by traders to review a digital asset’s price movements plotted in 1-week intervals, which provides a better perspective of the overall trend in the market.
Each bar, candle, or column represents price action from a single week.
The weekly chart provides the “big picture” of the market, lowering the amount of noise that a trader has to deal with.
Traders who utilize long-term time frame-based strategies with the weekly or monthly tend not to be glued to the monitor, watch price action development over minutes and days, and is normally described as a less stressful trading environment.