When doing technical analysis

[Dua Yong Rew]

The chart is in bid price

so all the indicators are calculated with bid price correct?

so if I want to code a condition like price over moving average, I need to use bid price for both buy and sell? make sense? 

[Dua Yong Rew]

anyone share some views here.

[Rogerio Figurelli]

doshur:
anyone share some views here.

Hi doshur, the main chart is in Bid price, the tick chart shows both (Ask/Bid).

And the indicators are calculated mainly at Close price correct? And most of indicators use a parameter for this (Close, Open, High, Low, etc.).

So, in my opinion, use Close in your moving average makes more sense. 

 

[Dua Yong Rew]

figurelli:

Hi doshur, the main chart is in Bid price, the tick chart shows both (Ask/Bid).

And the indicators are calculated mainly at Close price correct? And most of indicators use a parameter for this (Close, Open, High, Low, etc.).

So, in my opinion, use Close in your moving average makes more sense. 

 

Close price is bid price or?

[Paul Anscombe]

doshur:
Close price is bid price or?

yes all MT OHLC are the bid price.

[Dua Yong Rew]

MaxTrader:
yes all MT OHLC are the bid price.

so should if I wants to code a condition where price cross moving average from below to above, or vice versa, I should use bid price only?

[Paul Anscombe]

doshur:
so should if I wants to code a condition where price cross moving average from below to above, or vice versa, I should use bid price only?

the only time you will get any price other than bid price is by checking the ask price. so much easier to use the bid prices for analysis as this will match your charts anyway.

[Dua Yong Rew]

MaxTrader:

the only time you will get any price other than bid price is by checking the ask price. so much easier to use the bid prices for analysis as this will match your charts anyway.

I reckon that so. Im trying to do a scalper so every little pips is sensitive.

I find it hard to do a scalper...

[Rogerio Figurelli]

MaxTrader:
yes all MT OHLC are the bid price.

This is right for Forex, but not for Stocks.

[Alain Verleyen]

figurelli:
This is right for Forex, but not for Stocks.

Hi Rogerio, can you explain that please ?

[Rogerio Figurelli]

angevoyageur:
Hi Rogerio, can you explain that please ?

Hi, what I mean is that Ask/Bid at OHLC moments depends too much on liquidity at stock markets, so MT OHLC are not always exactly the last Bid price.