TD Sequential in MT4 has a flaw? Is it possible to eliminate "Sunday candle bar" in the sequential?
i use this to avoid such data
https://docs.mql4.com/dateandtime/DayOfWeek
but i agree with you i hope mt can give their user more easier way to modify / customize its chart the way it plot, or which data to show or hide...
Hi Ricx,
Thanks for your reply. I have read the code but not sure where to add up to the current indicator at here: https://www.mql5.com/en/code/8966. Could you show me more details please
Regards
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hey guys,
I had spend days to investigate this issue but I could not come with a solution so I post it here so we can discuss further the issue.
Issue: Mt4 server uses the London time zone as they preference time therefore you can easily see that there are 6 daily candles in 1 week in the MT4 chart (Market opens at 10pm London therefore there is 1 "2 hour" candle stands for 1 day in a week.) It is not logically think in term of currency market since we do only have 5 trading days. Therefore when we apply some indicators, particular Td Sequestial, then the calculation would be wrong. For example, the "counting process" would record to number 5 after 1 week in other platforms but in mt4 it shows number 6 (Suppose that all candles satisfy the TD Sequential requirements) therefore the timing for us would be incorrect. Furthermore, for example the requirement for TD buy setup is that all 9 candles have the close that is lower than the close of 4 bar earlier. If somehow, the current daily candle (Thursday) suddenly goes up and it closes above the close of 4 candle earlier which is the "Sunday 2 hour" daily candle then the setup will be eliminated. But if the Friday candle of the previous week has a close below the current bar, then the calculation will be wrong because the current candle is actually below the 4 candles earlier.
Since I came up with this issue, I try to find a solution to eliminate the counting of Sunday candle in the TD sequential indicator but I am not sure how to do that. Therefore I post this issue up so we can figure out the solution. I use the indicator from this link: https://www.mql5.com/en/code/8966. By the way, we can not change the preference time zone for mt4, right? So to Metaquotes: Why dont you guys change the software's architecture so that it will be more logically to have 5 daily candle in 1 trading week in currency market?
I look forward to hearing from you soon,
Best regards,
Kami