Why do charts appear this way? | Forex Factory

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Why do charts appear this way?

  • #1
  • First Post: Jul 26, 2006 1:09pm Jul 26, 2006 1:09pm
Using MT4 on a 4hr candlestick chart I watched as a new 4hr candle started. Thing is, the new candle formed not as a thin line that had open and close at the same point, but as this enormous white line.

If you look at the example, I had a buy order placed at the green line while the previous candle was at its high. The new candle appeared with a low below my purchase order but with the current price being the open. How is this possible?

Jason
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  • #2
  • Jul 26, 2006 1:16pm Jul 26, 2006 1:16pm
Quoting jlowder
Using MT4 on a 4hr candlestick chart I watched as a new 4hr candle started. Thing is, the new candle formed not as a thin line that had open and close at the same point, but as this enormous white line.

If you look at the example, I had a buy order placed at the green line while the previous candle was at its high. The new candle appeared with a low below my purchase order but with the current price being the open. How is this possible?

Jason
Hi Jason
Remove the Heikin-Ashi indicator and we will be able to see the price action better.
The HA candles give an averaged view of the prices and can sometimes hide what is really going on.
Put the new image on the forum and let the experts guide you
Peter
  • #3
  • Jul 26, 2006 1:23pm Jul 26, 2006 1:23pm
Quoting PeterFM
Hi Jason
Remove the Heikin-Ashi indicator and we will be able to see the price action better.
The HA candles give an averaged view of the prices and can sometimes hide what is really going on.
Put the new image on the forum and let the experts guide you
Peter
It now appears exactly as I expected. I've been using that indicator since I first starting using this program - to think I've been forming ideas of how things worked based on that...

Damn I'm a moron. :-( Thanks for pointing that out.

Jason
  • #4
  • Last Post: Jul 26, 2006 1:36pm Jul 26, 2006 1:36pm
Quoting jlowder
It now appears exactly as I expected. I've been using that indicator since I first starting using this program - to think I've been forming ideas of how things worked based on that...

Damn I'm a moron. :-( Thanks for pointing that out.

Jason
I used to use them when I used VT (another program) and they gave a nice clean image, but didn't really work as an indicator for trading, not for me anyway.
They are good to show the overall trend but I read somewhere to not use them as a trading tool (for placing trades that is).
Others might disagree on that, but at my stage I've learned to prefer ordinary OHLC bars, set to red and green, as a quick visual check for price movement.
Glad I could help
Peter
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