Oanda is Possessed!

[ts404]

Either theres going to be a major 1 billion pip breakout or my Oanda has been possessed by the girly who walks down the stairs upside down...

Whats going on with my Oanda??

(Problem is in the jpeg below)

Thanks~

[jroxman]

Hi there! I can't quite make out the times on your attachment, but what usually happens is the markets close from (GMT Times) Friday at midnight until Sunday evening (can't remember what time they open again).

Over the weekend, the price stays the same, hence the horizontal line on your graph.

P.S. you're right though, if the market was live during this time, I'd be expecting a massive breakout too, Bollingers Bands at the ready......

[n_aftab]

if you go to the settings you can turn off the weekend data, this will stop your problem and stop messing up any indicators you may have.

Hope this helps

N

[ts404]

Why does the market close on the weekend for Oanda but not for MetaTrader 4?
I thought I could trade 24/7?

Now... if Metatrader 4 Doesn't seem to close and Oanda does, when Oanda does open on the Monday it will have to adjust their market price? If the price stays the same on Oanda over the weekend doesn't that mean I can use MetaTrader 4's data to predict the adjustment Oanda will do and gain pips?

I've used a couple trading platforms, and they don't close data over the weekends. At least... I haven't noticed if they did or not.

[mastergunner99]

Originally Posted by ts404

I thought I could trade 24/7?

Forex is open 24 hours a day. 5 days a week. Granted, since the various times around the world, in the US, Friday afternoon it shuts down and reopens Sunday afternon.

On Oanda, you can still open or close a trade during the weekend hours, however it's not in your best interest to open a trade as the spreads are pretty high in the downtime.

There's a feature on Oanda that will allow you to ignore all weekend data if you were so inclined.

Originally Posted by ts404

Why does the market close on the weekend for Oanda but not for MetaTrader 4?
I thought I could trade 24/7?

The market does close for MT4. I'm with IBFX and, while I can see my charts at any time, there's no data for the weekend because the Forex markets are closed, as mastergunner99 said.

Originally Posted by ts404

Now... if Metatrader 4 Doesn't seem to close and Oanda does, when Oanda does open on the Monday it will have to adjust their market price?

Correct.

Originally Posted by ts404

If the price stays the same on Oanda over the weekend doesn't that mean I can use MetaTrader 4's data to predict the adjustment Oanda will do and gain pips?

Not really, since each broker has their own prices. Remember, these brokers (Oanda and MT4 brokers) are Market Makers, so their prices are really artificial.