I understand a gap can occur over weeknd, but this just happend at GBP/CHF on my metatrader:
When I look at the same graph on tradingview, there is no differnce there. Can someone explain?
Bump? Bumperooney? Anyone know this?
Maybe, it’s occurred during news session, that’s way gap!
What time did it happen, and what is the time frame being used on the chart?
Could be for a number of reason
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4 hour charts. One happened at midnight between Monday and Tuesday. The other happened at midnight candle from Thursday to Friday.
Once again, other brokers don’t have the gap (could be because timezones are different or something? Because on other charts candles open at 11, not midnight)
What time zone is the chart using?
Sounds like it could be rollover - some brokers ‘stop’ their price feed and instantly widen spread periodically at this time.
I don’t know where to check that on MT4, however a quick internet research says that it’s set to broker’s timezone by defualt, and since my broker iz in London it should be GMT.
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Without knowing for sure, it does sound like rollover - the below might help you more, look and see if it lines up, it certainly sounds like it does. (a quick internet search)
Every day at 5pm New York Time( 23:59 to 00:01 Server time) you will note that our platform will have a blackout for 2 minutes due to rollover. In the Global Forex Markets this is widely known as ‘End of Fx Day’.
_During the rollover time, all the large investment banks around the world reset their systems and prepare for the next trading day.
_Please note that around the rollover time spreads could be widen and big spikes or volatility may occur due to the low liquidity.
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But it is only on metatrader 4 apparently (or only on my brokers chart)
Here’s the same pair on oanda:
Yes, spread is different broker by broker - typically so is how they deal with rollover. Some brokers freeze the price feed resulting in a gap when they reopen, whilst others immediately increase spread to which if implemented on the transition of one 4H candle to the next 4H candle; a gap is created.
Nothing to worry about, it cant be avoided, just think about it and always get ready to adjust to the market.
This is assuming that it IS rollover, and not something else which I can’t see given the information provided.
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Yes
They said
"Hi there!
This has nothing to do with slippage, no worries. I can’t see any gap in the pic you attached. "
-I mean the difference between closing price of one candle and the opening price of the next candle
-It’s just that MT4 does not draw a candle if there’s no price change.
If for example the candle starts off at, let’s say 10:00 at one price and it closes at 10:01 at another, if the price is still the same (we speak about 1-min candles) the next candle will start at 10:01.
I hope it makes sense!
The conversation continued but I think we didn’t understand each other. In the end they linked me to a tutorial that explains how candlesticks show prices…
Interesting, so what they seem to be saying is that their MT4 charts only begin drawing a new candle when there is a new price quote for the given time interval. That means the only time you wouldn’t see a gap from one candle to the next on such charts would be when the first new price quote of the new candle is at the same price as the last quote of the previous candle.
By contrast, the other charts you are looking at seem to automatically set the open price for a new candle to be the same as the closing price of the previous candle even if there isn’t a new price quote at that level.
So missing candles if NO price change? Just what you want (not).
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Good question. Guessing they would at least have a dash to hold the place of time intervals with no price updates, but best to confirm.
@justAnewbie what does that platform show you for 1-minute charts during slow markets?
I think you missunderstand them just like I did.
Or they are wrong.
The thing is, there are no candles missing
The first one is at 20:00 and second one is 00:00, 4 hours appart.
If there was a candle missing, they should be 8 hours appart, correct?
But I’m not planning to do my analysis on MT4 anyway because its very bad IMO…
Based on our interpretation of their explanation to you, a missing candle would not be expected on a 4-hour chart unless there were zero price updates for the entire duration of the 4-hour interval. That’s virtually impossible during market hours unless their price feed was down.
What we are curious about is whether, on a 1-minute chart (which is a time interval short enough that it’s theoretically possible during very slow markets for there not to be a price update for an entire candle), will their charts display a dash as a place holder for that minute’s time interval, or will that minute will be skipped entirely?
Thanks @justAnewbie
Mystery solved.
@RISKonFX we agree. A dash as a place holder would have been better.
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