Q on Candle formation
Mouteki is supposedly used on H4 charts.
I have a question.
Seeing that brokers have different server time. And MT4 Candles are time dependent: Support appeared on Candle 3 for Broker A, but it appeared on Candle 2 for Broker B. Therefore the Support Line will be different for these brokers.
Will it greatly affect the whole thing?
For one thing, it is possible to get different "entry" points; If a broker has an "earlier" server time, the candles would appear earlier and therefore, call for an earlier entry. YET it may also be possible the its candle opened above the support line and on Broker B (being late), starts off its new candle lower than the support line already.
Hmm... this is getting confusing....
using the 1hr...I know, I know...
Yup, H1 seems nice, but it goes against the mouteki's premise of using H4 charts.
below is a chart from NF (Left) and IBFX (right).
It is clear that these two will have different Support Lines.. IBFX has an "earlier" 1st support than NF.
I think id try to modify mouteki to use H1 candles yet sticking to the 4 hour candle rules. ie, use H1 candles, group 4 candles together... and all candles to start off exactly on Monday Asia Open
see this post
Someone else is way ahead of you.
with a great solution I might add...
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