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Chart Time Frames Vs Trading Time Frame |
smile.dhanno
White Belt
Joined: 19 May 2011
Posts: 28
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Post: #1  Posted: Sat Jan 09, 2016 12:41 am Post subject: Chart Time Frames Vs Trading Time Frame |
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Hi,
I had a basic questions. Our market starts at 9:15 AM. And generally our candle begins at 9:00 and ends at 9:30 in case of 30 mins chart.
Isn't it wrong because our first candle has actual value of only 15 mins whereas it denoted 30 minutes.
9 - 9:30 --> Chart Candle
9:15 - 9:30 --> Only 15 mins trade and we plot 30 mins candle.
Better we can adjust the time frame to 9:15 - 9:45 and so on to get the actual candle for actual 30 mins trade.
Please provide your views. |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #2 Posted: Sun Jan 10, 2016 10:33 am Post subject: 30 min TF |
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Hi Smile: why you are so focussed on 30 min time frame?
Many people, incl me, trade using 5 min candles which dont have any problem during 0915-1530? Also read Al Brooks, he explains the benefits of 5 min TF?
Have you tried 15 min TF which also fits in neatly into 0915-1530?
Also even if we accept your contention to run 1/2 hr as 0915-0945 etc what will you do with 1515-1530? join it to 0915-0930 of next day?
NSE accepts suggestions from public on their website. I request you to write in and ask them to extend the trading to 1545 to give neat 1/2 hr candles
Cheers, Prakash Holla
PS, Smile: Since 1/4/15, I have completed 190 pairs of trades of which only 2 were marginally loss making. I am NOT boasting but only pointing out that successful trading is based on a multitude of factors like TF + other indic like BB, MACD, ADX, RSI. etc etc + volume+no of buyers/ sellers. You need to look at weekly/ daily candles to help you see trend of today's intra, you look at weekly chart to detect long term trend etc. Focusing on ONLY ONE parameter like TF is not enough |
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smile.dhanno
White Belt
Joined: 19 May 2011
Posts: 28
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| Post: #3 Posted: Sun Jan 10, 2016 10:53 am Post subject: Re: 30 min TF |
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| pkholla wrote: | Hi Smile: why you are so focussed on 30 min time frame?
Many people, incl me, trade using 5 min candles which dont have any problem during 0915-1530? Also read Al Brooks, he explains the benefits of 5 min TF?
Have you tried 15 min TF which also fits in neatly into 0915-1530?
Also even if we accept your contention to run 1/2 hr as 0915-0945 etc what will you do with 1515-1530? join it to 0915-0930 of next day?
NSE accepts suggestions from public on their website. I request you to write in and ask them to extend the trading to 1545 to give neat 1/2 hr candles
Cheers, Prakash Holla
PS, Smile: Since 1/4/15, I have completed 190 pairs of trades of which only 2 were marginally loss making. I am NOT boasting but only pointing out that successful trading is based on a multitude of factors like TF + other indic like BB, MACD, ADX, RSI. etc etc + volume+no of buyers/ sellers. You need to look at weekly/ daily candles to help you see trend of today's intra, you look at weekly chart to detect long term trend etc. Focusing on ONLY ONE parameter like TF is not enough |
Thanks for the reply Prakash jee.....and appreciate your help on the same. See whatever indicator you have said MACD...BB etc anything that you see in the chart is primarily derived from the candles of the timeframe you choose. Like RSI is default the 14 period strnegth of the counter, now if my candles are not the same as yours then how can we rely on the study. I agree with you on smaller TF like 5 and 15. But all higher time frames are just not right. Your RSI can be above 70 and mine can be below 70 on the same TF if we both have a different time frame setting.
Like at 9:30 nifty was 8000 and your closing value will calc this and at 9:45 nifty was at 8050 so my closing value will be different. Hence the calculated value of the indicator will also be different. Here I assume your 30 min is 9-9:30 mine is 9:15-9:45. Same goes for hourly.
5,15 and Daily, Weekly is fine.......but rest all have some scope of difference. Agree ? |
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smile.dhanno
White Belt
Joined: 19 May 2011
Posts: 28
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| Post: #4 Posted: Mon Jan 11, 2016 8:57 am Post subject: |
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| Any Suggestions admin / experts ?? |
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kamal.icharts
Site Admin
Joined: 10 Apr 2013
Posts: 576
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| Post: #5 Posted: Mon Jan 11, 2016 9:40 am Post subject: Re: Chart Time Frames Vs Trading Time Frame |
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Dear Member,
If we start the candle at 9:15 also, then first candle will be formed from 9:15 to 9:45 and last candle will be formed from 3:15 to 3:45, in which case again only 15 mins of data is captured in last candle. Since adjusted closing price is usually average of last half an hour, we conducted a poll and decided on splitting of the time.
Regards
Kamal
| smile.dhanno wrote: | Hi,
I had a basic questions. Our market starts at 9:15 AM. And generally our candle begins at 9:00 and ends at 9:30 in case of 30 mins chart.
Isn't it wrong because our first candle has actual value of only 15 mins whereas it denoted 30 minutes.
9 - 9:30 --> Chart Candle
9:15 - 9:30 --> Only 15 mins trade and we plot 30 mins candle.
Better we can adjust the time frame to 9:15 - 9:45 and so on to get the actual candle for actual 30 mins trade.
Please provide your views. |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #6 Posted: Mon Jan 11, 2016 10:45 am Post subject: Re: 30 min TF |
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| smile.dhanno wrote: | Like at 9:30 nifty was 8000 and your closing value will calc this and at 9:45 nifty was at 8050 so my closing value will be different. Hence the calculated value of the indicator will also be different. Here I assume your 30 min is 9-9:30 mine is 9:15-9:45. Same goes for hourly.
5,15 and Daily, Weekly is fine.......but rest all have some scope of difference. Agree ? |
Only Prakash, no "JEE" please, this is trading democracy!
I can only say : Let us agree to disagree?
Cheers, Prakash Holla |
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