Time Zone & Trading Hours on US Indices not working correctly

[ST]

"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

[Guest TimP]

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

[ST]

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.

 

 

[ST]

 

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.