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Chart scaling issues with PRT for short timeframes charts (5min)
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Guest synclavier,
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10/06/21 10:53
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Market update: is Bitcoin on the way to $50k or retracement first? Bitcoin nears $45k; options suggest $50k surge. Crypto resilient, market cap up $750B since Nov '22. BTCUSD daily chart Source: TradingView Full article -
WTI crude drops below $70, indicating bearish trends; watch key thresholds for market insights. Source: Bloomberg Shares Commodities Market trend Price Price of oil Oil Diego Colman | Market Analyst, New York | Publication date: Thursday 07 December 2023 05:02 On Wednesday, WTI futures recorded a sharp decline, marking the fourth consecutive session drop and reaching June's lowest level. Today's round about 4% fall adds to December's cumulative loss of nearly 9%, breaking the crucial $70.00 threshold—a bearish development from a technical perspective. The recent selloff in energy markets hasn’t been driven by a singular catalyst but rather a convergence of multiple factors. First off, investors have been dismayed by OPEC+ supply cuts announced in late November because they will be voluntary rather than mandatory, which can potentially enable members to circumvent individually committed reductions. Global economic challenges deepen oil market turmoil Disappointing growth in China, coupled with record US crude production at a time of slowing economic activity, has also created a hostile environment for the commodity. The uptick in US fuel stockpiles beyond the seasonal norm in recent weeks has strengthened the belief that demand destruction is taking place, further weighing on sentiment. Speculative activity by over-leveraged CTAs, which tend to be trend followers, has reinforced oil's weakness, bolstering volatility and exacerbating prevailing directional moves. With CTAs becoming increasingly dominant, their influence on markets will continue to grow, giving way to more and more episodes of rapid and significant price swings. Oil's trajectory tied to US economic health Focusing on the outlook, oil’s path will likely hinge on the health of the US economy. That said, if incoming information validates the view that a recession might emerge soon, prices could remain depressed and even head lower, with the next bearish zone of interest at $67.00. Subsequent losses could draw attention to March and May’s swing lows near $64.00. In the event of a bullish turnaround, a possibility worth considering given some of the disconnects between physical and paper markets, initial resistance lies around $70.00. A successful breach and price consolidation above this threshold might rekindle buying interest, setting the stage for a rally towards $72.50. Further upside progress would shift the focus to the $75.00 mark. Crude oil prices daily chart Source: TradingView This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
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Question
Guest synclavier
Hi,
When I open my PRT 5-minute charts, the charts open with very squashed scaling and no candlesticks can be seen in view. If I click on the 'Default Optimized Scale button', it makes no difference as the scaling remains squashed. I then have to fiddle with zoom and scroll/drag manually until I can actually see the candlesticks each time the template is opened.
My 15-minute and 1-hour PRT charts do not have this problem - the charts open with the scale optimized and I can see the candlesticks straight away.
Can the scaling of charts be optimised for short timeframes, such as 5 minutes? it's frustrating to be wasting time each day trying to manually adjust scaling parameters for every chart. Candlesticks should be loaded in with optimized scaling for all timeframes - this is common place in all other charting packages that I have used so not sure why it doesn't work in PRT.
Thanks.
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