Is there any truth to absolute clock time.

Discussion in 'Trading' started by PaulTrader, Feb 1, 2023.

  1. I can look at price history and see points on the candlesticks and the trends change. I can also see points and the opposite happens. Playing on my virtual account, I see that my candlesticks update at 00:00:58. Is there any science in candlestick behavior before an event? I have tried to research this behavior through reading. However, when I detect that the writer is using word salad to push unwarranted optimism, I look elsewhere.
     
  2. TheDawn

    TheDawn

    I find it really depends on the broker, where it chooses to cut off the time to draw a candlestick with some broker's server with faster time than others so you will see tiny tiny bit of difference but on the most part, it should be very similar. This is especially prevalent with forex brokers because with forex, since everything is traded OTC, the broker really gets to decide how the quotes are so you are going to see the candlesticks slightly different between each broker.

    This is according to my personal observation. I don't think it should affect any indicators or trendlines though.
     
    murray t turtle likes this.
  3. SunTrader

    SunTrader

    Most FX brokers data is actually bid, not price.
     
    murray t turtle likes this.
  4. M.W.

    M.W.

    Not true, where did you get this from?

    Most data providers of tick fx data provide both, a bid and an ask, even if only one changes at a given point in time. If the bid changes then the update tick data is the tuple of the new bid and the existing ask price.

    For compressed data such as candlesticks the data used for the derivation of open, high, low, close is usually a function of the mid price, not the bid or ask only.