Different brokers - different H4 charts - how to handle
Could you guys help me understand how do you handle such cases.
This is NZDCAD on May 22, H4 chart. I have 2 brokers: one is GMT+2 (CET, summer time) and the other is GMT+3 (summer time).
The GMT+2 broker provides 6 daily charts per week (1 daily chart on a Sunday, which is basically only 1-hour chart); therefore, I do not use this broker for my daily analysis.
The GMT+3 broker provides 5 daily charts per week; therefore, I trust/follow this broker’s charts for daily analysis.
The issue, however, is not only the difference between the daily charts. Attached is the image of H4 charts of the two brokers and as you can see one gives me a false break of the H4 channel, which for me is a fairly strong reversal signal, whereas the chart of the other broker gives me a normal price action within the channel, which indicates further move down.
Which chart should I trust? What would you do in this case? How
would you draw your H4 channels? Do you have similar experience with your brokers?
Will be interested to have your opinions and ideas…
Thanks in advance.
I recommend to use who provides 5 D1 candles,because most brokers has 5 D1.
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FX opens 5pm ET Sunday and ends 5pm ET Friday. Some brokers start after (6pm is common/end before (up
to 15 minutes) due to low volatility.
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Swap is computed 5pm ET. No swap if no open orders at that time. Brokers use a variety of timezones. Their local time (with or without DST,) GMT/UTC, GMT+2, NY+7.
Only with NY+7 does the broker's 00:00 equals 5pm ET and the start of a daily bar (and H4) is the start of a new FX day.
GMT brokers, means there is a 1 or 2 hour D1/H4 bar on Sunday (depending on NY DST,) and a short Friday bar.
GMT+2 is close but doesn't adjust for NY DST.
EET is closer except when their DST doesn't match NY's. Last Sunday of March and 1:00 on the last Sunday of October vs second Sunday in March and return at 2:00 a.m. EDT to 1:00 a.m. EST on the first Sunday in November.
Non-NY+7, means the chart daily bar overlaps the start, and converting broker time to NY time requires broker to GMT to NY timezone conversions.
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If you search the web you will find differing answers. Those are all wrong (half
the year) because they do not take DST into account (or that it changed in 2007 [important when
testing history.])
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Then there are H4 candles that start on odd hours.
Why My XAUUSD 4H candles start with 1 hour shift? - Currency Pairs - General - MQL5 programming forum
Не могли бы вы, ребята, помочь мне понять, как вы справляетесь с такими случаями.
Это NZDCAD от 22 мая, график H4. У меня 2 брокера: один GMT+2 (CET, летнее время), а другой GMT+3 (летнее время).
Брокер GMT+2 предоставляет 6 дневных свечей в неделю (1 дневной график в воскресенье, что в основном представляет собой только 1-часовую свечу); поэтому я не использую этого брокера для ежедневного анализа.
Брокер GMT+3 предоставляет 5 дневных свечей в неделю; поэтому я доверяю / слежу за графиками этого брокера для ежедневного анализа.
Однако проблема не возникает только в разнице между дневными графиками. Прилагается изображение графиков H4 двух брокеров, и, как вы можете видеть, дает мне ложный прорыв канала H4, тогда как график другого брокера дает мне нормальное ценовое действие. внутри канала, что происходит дальнейшее движение вниз.
Какому я должен доверять? Что бы вы сделали в этом случае? Как бы вы нарисовали свои каналы H4? Есть ли у вас наличие опыта работы с вашими брокерами?
Будет интересно узнать ваше мнение и идеи…
Заранее спасибо.
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Could you guys help me understand how do you handle such cases.
This is NZDCAD on May 22, H4 chart. I have 2 brokers: one is GMT+2 (CET, summer time) and the other is GMT+3 (summer time).
The GMT+2 broker provides 6 daily candles per week (1 daily chart on a Sunday, which is basically only a 1-hour candle); therefore, I do not use this broker for my daily analysis.
The GMT+3 broker provides 5 daily candles per week; therefore, I trust/follow this broker’s charts for daily analysis.
The issue, however, is not only the difference between the daily charts. Attached is the image of H4 charts of the two brokers and as you can see one gives me a false break of the H4 channel, which for me is a fairly strong reversal signal, whereas the chart of the other broker gives me a normal price action within the channel, which indicates further move down.
Which chart should I trust? What would you do in this case? How would you draw your H4 channels? Do you have similar experience with your brokers?
Will be interested to have your opinions and ideas…
Thanks in advance.