Brand new newbie here and I have some questions. I have been trading a weekly gap strategy on a demo account for around 4 months now. I trade using my iPad and study charts from Metatrader5, FXCM, NetDania and Trade Interceptor. I have begun to notice some discreqancies in between these charts. For instance, my Metatrader account will show a huge gap in the EUR/CHF, yet my Trade Interceptor account will not only not have a gap but will even have a candlestick in the OPPOSITE DIRECTION! My stategy has been faring well, but I am confused as to which chart to put my faith in. Please help. Thanks
how long (duration) is that opposite candle? it could just be the broker having a very large spread at the opening of the session, and that (either on purpose or by coincidence) can trip a ton of limit orders before the market proceeds as it normally should. i’ve seen massive rapid (like 1 second) UP-DOWN-UP-DOWN spikes at my previous broker during significant news release events, which my current broker hardly ever has. could be their spreads widening, or if they’re a market maker they fiddle with the rate to trip a bunch of orders “for fun”.
Are both charts for the same currency pair and time frames?
Hi BradleyMyers,
Welcome to the forum 
Can you post screenshots of these charts for comparison?
Thanks,
Jason
Thanks for posting these screenshots, Bradley. Can you change the time frame from weekly to 4-hour charts? I suspect that the two charting packages are using different start and end times for the weekly charts, and this will be easier to see on a shorter time frame.
Brokers may close their charts on different time frames. The two most common I know of are based on GMT midnight and then right after the NY session close (since EURUSD is the most popular pair and a majority of transactions include the dollar).
There’s no real need to use multiple charts for analysis. You will end up getting conflicting signals that way. Traders that hold trades open over the course of days or trade off 4hr increments will commonly do analysis off of NY close charts because they sync up with the actual trading week and don’t have that little Sunday evening bar that you have on GMT close charts.
You’ll want to pick a chart that is applicable to your strategy and go with just one. Or if you use multiple; ensure they are all on the same time frame.
Charts are different from broker to broker. Always.
Thank you all very much for your response. I have been trading in the trending direction of a weekend gap with pretty great results. Not to mention, applying all the knowledge I have gained from pip school! I will also take the advice and stick to one chart. Thanks again.