Jump to content
  • 0

Time Zone & Trading Hours on US Indices not working correctly


ST

Question

"Display intraday charts of this market: from 14:30 to 21:00 (UTC: 00:00)"

 

I have US indices set as above in PRT charts in order to get cash charts, however, the charts open at 14:00 on the hourly time frame, not 14:30. The 5 min and 15 min TF is unaffected, have n't checked the others. 

 

Could you please correct this?

 

Thanks

Link to comment

3 answers to this question

Recommended Posts

Hi Tim,

 

Apologies for the delay in replying, the boards' notification of reply facility is being selective in which of my posts it responds too despite Dan's attempts to resolve the issue. See the other thread if interested.

 

US Indices: I would expect the 14:00 (GMT) candle to open at the 14:30 price and show 30 minutes worth of data. As the US stock markets close on the hour the rest of the hourly candles would show one full hour of data.

 

LSE Indices: Similarly, I would expect the 16:00 (GMT) candle to show 30 minutes worth of data and close at 16:30. The other candles from 08:00 to show one full hour of data.

 

I this is not true then trend lines are thrown out on the hourly time frame, this I have experienced.

A related deficiency in IG PRT charts is that applying the cash hour settings to non-intra-day time frames ticking the box:

 

Apply settings above to non-intraday timeframes (Daily, Weekly, Monthly, Yearly)”

 

drastically reduces the chart real estate. For example, without this ticked, the FTSE100 can be viewed from April 1984 but when applying the intra-day settings to that of cash hours it's only possible to go back to June 2015. It is as important to have the higher time frame candles closing at the same time as the market! Again if this is not true it throws out trend lines. In addition, it is a pain in the derriere to have to keep changing chart settings to re-assess recent price action in the context of the longer term perspective.

 

I hope you can get these issues resolved Tim.

 

Thank you in anticipation of your efforts.



 

 

Link to comment

Data Flaws.png

 

This screen shot illustrates my point in my last post above. I have used the FTSE100 as an example. The fibonacci expansion tool was used on the hourly time frame and wthe yellow trend lines were also drawn on the hourly time frame. The above is showing the FTSE100 when dropped down to the 30 minute time frame. At point "a" inside the ellipse the 16:00 candle is the red candle on the left obviously showing 30 minutes of data. The red candle to the right is the 8am opening the following day. It can be seen that the expansion tool terminates below the candle as it is at the low price of the hourly candle i.e. at 17:00 not 16:30 and so distorting the expansion levels! Similarly, the lower trend line is not in the right place because of the same flaw. I hope that makes the flaw in the charts clear. 

 

 

 

Link to comment

Hi 

 

The reason for this is actually because on an hourly timeframe the charts can not display a 30-min increment. The same would apply on a 4-hour timeframe as well. 

 

We'll pass this on to IT-Finance to see if there's any plans to change this. Just to confirm, what would you expect to see? Would the first candle be only 30-mins long, or the last candle? 

 

Tim

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • Posts

    • Sainsburys full year earnings and Unilever’s first quarter trading update both say the same thing, UK consumers are in for higher prices. The war in Ukraine, supply chain issues and the effects of ongoing Covid all to blame.      
    • US Dollar (DXY) Daily Price and Analysis US Q1 GDP may stall the greenback’s advance. A 20-year high nears for the US dollar. The multi-month US dollar rally continues with the greenback printing a fresh high today ahead of the first look at US Q1 GDP at 12.30 GMT. The US dollar basket (DXY) has been boosted by renewed weakness in the Euro and the Japanese Yen, as investors move from lower-yielding to higher-yielding currencies, while safe-haven flows continue to benefit the greenback. The US growth release later in the session is expected to show a sharp slowdown from the robust Q4 figure of 6.9%. The markets are currently pricing in growth of just 1% for the first three months of this year, with the slowdown mainly due to a reduction in inventory accrual over the quarter. This release is unlikely to move the greenback, unless there is a large miss or beat, as the Fed believe that 2022 US growth will be robust enough to let them tighten monetary policy sharply without damaging the economy. The latest US Core PCE data – the Fed’s preferred inflation reading – is released on Friday and this may have more effect on the US dollar than today’s GDP data. For all market moving economic data and events, see the DailyFX Calendar. The ongoing US dollar rally has been aided by weakness across a range of G7 currencies including the Euro, the Japanese Yen, and the British Pound. The Euro continues to battle with lowly growth expectations, exacerbated by energy concerns, the British Pound is mired by weak economic data, while the Japanese Yen is in freefall as the BoJ continues with its ultra-loose monetary policy.   The US dollar continues to press higher and looks set to break above 103.96, the March 2020 high. Above here the US dollar would be back at levels last seen nearly two decades ago. The March resistance will likely hold in the short-term, especially with month-end portfolio rebalancing at the end of the week, but US dollar strength is set to continue in the months ahead. USDOLLAR (DXY) WEEKLY PRICE CHART – APRIL 28, 2022 {{THE_FUNDAMENTALS_OF_BREAKOUT_TRADING}} What is your view on the US Dollar – bullish or bearish?   Apr 28, 2022 | DailyFX Nick Cawley, Strategist
    • While Tesla has nothing directly to do with Elon Musk buying Twitter - TSLA stock closed down 12% on news that Musk may have to sell stock and use other holdings to stand against the loan to finalise the purchase of the social media giant.        
×
×
  • Create New...