Quote:
Originally Posted by dpaterso
Now I'm not for one minute saying that this is the ONLY reason why Parabolic SAR may be plotted differently from one broker to the next but it could certainly be a contributing factor.
Just another little 'pearl of wisdom' for the week.
Regards,
Dale.
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Dale, how are you buddy? I think I can provide the answer to your querie regarding different looking charts. Firstly, check lower timeframes to see if THEY are the same on different brokers. I bet they are.
The reason 4 hour and daily charts seem to show up different on different brokers is due to different time zoning and different candle open/close hours. In the system I trade, I wait till a new candle to open to enter a trade. Problem is, my new candle opens at different times to many others trading my new system (on the daily and 4 hour). Some will step to a new candle at 5:00pm (end of equity market hours), some step at 00:00am, some open the new candle at 8 or 9am (open of equity market hours). This will also vary depending on what timezone the broker is basing these times on. On the 4 hour charts, different brokers may use different 4 hour blocks.
This will affect what every candle looks like. A big move at the end of my day might be showing at the start of yours, for example. Now, if my candles' open/close and high/low values are different to yours, our PSAR calculations MUST be different.
I believe this is why so many indicators, and indeed even the candles themselves, look so different on high timeframes across different brokers.
-Benjimang