Explain the differences in candlesticks of the same currency pair between different platforms no

Broker Discussion Forex Brokers
1

I saw that there was a huge difference in the charts of my broker and that of myfxbook regarding the GBP/JPY currency pairs.

I was playing on my broker’s demo in comparison with the market charts of myfxbook when I saw a huge difference in the formation of candlesticks. My broker’s mt4 platform was 1 candlestick behind, while myfxbook was 1 candlestick ahead, and even the sizes were different (See pics below).

Then, I thought that maybe my broker’s chart system on mt4 was delayed due to many moving averages, which make the GMMA. So, I temporarily deleted all moving averages and indicators. Yet, I continued seeing the differences in the numbers of candlesticks and sizes. My broker’s had 3 bearish candlesticks while myfxbook had 4 bearish candlesticks on the same currency pair. I wondered why this happened. Can someone explain?

2

Seems like a winning strategy…on my live MT5 account my 1hr chart lines up perfectly with myfxbook chart.

What time frames were you looking at? Maybe the demo account is just lagging behind.

1 Like
3

Check also that both charts are displaying the same prices - each pair has two prices, bid price and ask price, for selling and buying respectively, so the ask is always higher than the bid.

Most charts are by default set to the bid price, but it can be manually re-set to ask, or sometimes to the mid-price, which is the average between the two.

1 Like
4

Strange, never seen this before

1 Like
5

Thanks for replying. I was trading a 1H chart

6

Great, let me check right away