OHLC bars and time range

Discussion in 'Technical Analysis' started by jedwards, Aug 10, 2010.

  1. This is a bit of a basic question, but what exactly is the time range of an OHLC bar?

    If I am using 1 min candles, and the bar is 1:00am, does that mean that all the data contained in this bar is from 12:59:00.000 am to 12:59.59.999 am?

    This is apparently the time frame that Ninjatrader uses, as well as my data feed (IQfeed) and I just want to make sure this is a standard industry definition.
  2. That is correct.

    OHLC data streams are comprised of all of the trade action that occurs in 60 seconds.

    Any other period the bar is to represent (3 minute bars for example) is synthetically created by you application or by the data vendor.

    Additionally, I have that Apps that create their own bars from actual tick data - are better.

  3. Actually I am wrong, your 1:00am bar should actually be 1:00:000 to 1:00:999

    The rest said is correct.

  4. LEAPup


    There's something to be said about having tick charts beside the 5,3,1 min charts.

    I like the 25t and 90t for Fx. Had a good teacher.:)
  5. Couldn't resists final clarification

    The 1:00am bar will contain a summary of all trades between (but not inclusive of) the times 12:59:999 and 1:01:000
  6. @LEAPup

    Yep, Thats right!

    Love tick charts.

    Its funny how different time frames (OHLC) and variable time frame (tick charts) can provide very different views of the same market.

    Fact is, pick one to trade, use others to verify the trade - I had a good teacher as well.
  7. LEAPup


    Agreed! Good stuff!:)
  8. I see... interesting. Thanks for your response. This is different from what I see empirically, however, to me what you say makes more sense than what I see.