Hello,
Yes, this is correct.
The exchange does not have orders, and therefore does not have prices. Prices are derived from an active market, if there is no market, there are no prices.
Prices are the point at which a buy order meets a sell order. Unless some trades have been executed in your market, there won’t be any prices (and therefore no candlesticks).
Hope this is clear. Let me know if you have more questions about this.
with regards