What is the best time format for Forex graphics?
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Thread: What is the best time format for Forex graphics?

  1. #1
    A few days ago I asked this question, but after 65 visits nobody answered, so I hope to have better luck this time.Is it better

  2. #2
    That depends on your strategy.For some traders, the opening of the 00:00 GMT is key because it aligns the graphics with the calendar day, which can simplify the interpretation.But if your strategy does not depend on the opening of specific candles, the difference is minimal.

  3. #3
    Good question, the truth is that I had never thought about it.Will the patterns change?I don't believe it.Unless the strategy is sensitive to time, does the chart time really matter?

  4. #4
    Of course, especially if you use daily candle patterns.22:00 GMT candles include the closure of New York, which many consider a more complete reflection of market activity.Small changes can have a great impact on interpretation.

  5. #5
    I don't think the pattern changes.Perhaps the only thing that changes is the body of the candles, which can affect those who base their trading on the action of the candles.

  6. #6
    Changing the start of trading day can completely change the context of daily and 4 -hour graphics.What looks like a bullish pattern at one schedule may not be in another, so don't discard it so fast.

  7. #7
    Mark in your graph 00:00 GMT because that is the opening that everyone else is observing.As for the patterns, only 4 -hour candles will be different, but if you look closely, a pin bar is the same as a green and red bar together.You just need to learn to interpret them correctly.In short, it will not make a notable difference.

  8. #8
    Exactly, most traders who follow the 00:00 GMT schedule do it because it is the standard used by most trading platforms.Of course, make sure that any time change does not affect the key decision points in your strategy.

  9. #9
    The candles will change depending on the graph you use, but the patterns will not.For example, if you have two daily graphics and one starts at 00:00 GMT and another at 06:00 GMT, the candles will be different, but the patterns will follow the same general form because they are based on the price.Only intermediate candles will change, which could affect if, for example, you operate based on closing a candle as a sign for rupture of a channel.

  10. #10
    It is true, the general structure does not change, but the reading of patterns could be affected.For example, Japanese candle patterns depend a lot on the closure and opening of candles, so the time you choose could influence your trading decisions.

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