Different time zones, different candles

Hi everyone!

I'm trading price action (still demo) and compared two different MT4-brokers (fx pro GMT+2 and OANDA GMT-5). So these two have completely different time zones and therefore build different candles.

I attached two pics. The blue boxes are on the fxpro chart, the white ones on the OANDA chart.


I think this is not only a problem for price action traders: every indicator calculates its lines with the given data. I haven't tested it but if you use an indicator on OANDA you should get different results as there is always this little sunday bar which appears in the calculation of the indicator. So one indicator gives two different graphs just because of the brokers time zone and settings.


My question is:
Do you think this is a problem or am I just worrying too much?

I get what you are saying but if you go with the trend, check the H4, the H1 before putting in a position than I don't see an issue.

Because Oanda's Sunday bars are usually so small I don't believe they will have much effect on indicators although I do find them an irritance. I have always preferred the FxPro way of handling Sundays and use FxPro charts but place my trades with a different broker.

@Pipsel:
You are probably right, I should check the lower time frames aswell.

@invicta:
That's how I do it too and I think I'll keep this method. Especially because the time zone of fxpro suits me very well.

Sorry for off topic:
Invicta, I see you use fibonacci expansion. Would you share some strategies with the world?

For info on using Fib expansions I recommend Joe DiNapoli's book Trading with DiNapoli Levels. You might also want to try the DinapoliTarget Malay indicator, which can be downloaded from this forum, although I personally prefer to use the MT4 Fib Expansion tool (Insert > Fibonacci > Expansion).

Thanks, I found it with google!

you are reading candles wrong if you are looking at a specific candle or formation and try to predict based on that