Pardon my ignorance, but does the Apple Pencil work similar to a mouse?

I work online as a day trader. I use last years MacBook for all my needs. For travel, I am interested in the new iPad and pencil. There are calculations and lines I draw with the mouse on 3rd party broker apps. Am I able to perform the same, but improved drawings, with the pencil on these apps?

Apple Pencil (1st Generation)

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