Bar anomalies when multi-hour bars cross NY close
Posted: 29 Mar 2007
I've been setting up charts in 1-hour increments from 1 to 24 hours, and I've noticed what seems to be an anomaly in the way MCFX handles bars that cross the NY close. In effect, every bar that is open at 5pm New York time is closed at that time, and a new bar opened.
That means that if you set up a 10-hour chart, instead of a smooth sequence of 10-hour bars, you get:
10h - 10h - 4h - 10h - 10h - 4h - 10h - 10h - 4h - etc.
The effect is most pronounced in the 23h chart, where the sequence is:
23h - 1h - 23h - 1h - 23h - 1h - 23h - 1h - etc.
That means that if you set up a 10-hour chart, instead of a smooth sequence of 10-hour bars, you get:
10h - 10h - 4h - 10h - 10h - 4h - 10h - 10h - 4h - etc.
The effect is most pronounced in the 23h chart, where the sequence is:
23h - 1h - 23h - 1h - 23h - 1h - 23h - 1h - etc.