new using trading system, was studing which time frame will be best to used but having a little problem understanding it.
for example what the different between 15 chart and a 30 or an hour chat. i am just new
Each candle comes around every 15 minutes, and every candle comes around every 30 minutes. Likewise with any time chart.
Price moves the same on all of them. The only variance is how you choose to look at the chart, or how your trading style or plan needs. Indicators will always read each chart differently as it’s computing different information with each candle.
A 15mn timeframe mean that each 15mn, only 1 set of the four values HLOC is given :
- H : the highest during those 15mn
- L : the lowest during those 15mn
- O : the opening price of this 15mn
- C : the close price of this 15mn.
It is important you understand there are no average here.
If you look at a line chart, it is often set to the close price (you only see one value of the said set of value).
If you look at a bar or candle price, the design of the bar or candle give you the 4 info.
Whatever timeframe unit you use, the candle (or bar) currently designed will end at the start of the next timeframe unit you have chosen. Each bar (or candle) last the unit you have chosen.
The smallest unit is the tick.
May i suggest you to read babypips school if you haven’t yet ?