Differing opening values on intraday charts

[JimRutherford]

I'm seeing a pretty noticable difference in the opening value of intraday charts on some symbols. I've seen this numerous times but not taken the time to actually capture an example until today.

On the SPY, 2/22/2011 09:30 opening value
Daily chart = 133.12
233 min chart = 132.97
55 min chart = 133.12

WHile the daily and 55 minute charts agree and they have the same value as reported ib other sources, why would the 233 chart be so different? This makes it appear that there is a significant gap when there really isn't.

I have multi-minute bars set to the more accurate bars option. Is there anything else on my end that could be affecting this? I very often notice a significant discrepency on the closing value of my 8 minute charts versus other charts as well.

Thanks

Jim

[JimRutherford]

My apologies, I also forgot to mention that the high value for the first 233 chart candle on 9/22 is also way off. That's what's really causing the chart to show a gap.

9/22 SPY 233 chart 09:30 candle has a high value of 132.98 and the first candle of the 55 min chart has a high value of 133.86, that's almost a $1 difference. Any ideas what's up with that?

Jim

[ckelly]

Jim,

I might just have the lucky server this morning, but my SPY 2/22/11 intraday charts line up with the Daily chart . . . so you might try your luck at getting a better server.

As for the 8-min chart being erroneous - there is a documented bug in the code that I think never got fixed. It starts with the 4-min chart and continues with all evenly divisible 4-min intervals (4, 8, 12, 16, etc.) . . . and the charts sometimes go wacky. Take a look at 3-, 4-, & 5-min charts side-by-side and many times, you'll see the 3- & 5-minute charts with indicators clearly crossing, but the 4-minute won't, and vice versa - especially where there is a huge amount of volume at the open. For this reason, I no longer use an 8-minute chart.

fyi,

Carol

[JimRutherford]

Thanks for the reply Carol. I was also experiencing an issue with intraday data missing for $INDU on 2/24 and suspected that was a server side issue. I had tried reconnecting several times over the weekend with no luck. A reconnect this morning has provided consistent SPY intraday charts and intraday data for $INDU on 2/24.

I also appreciate the info on the charts in increments of 4 minutes. That may explain another issue I have had with missed entries waiting for indicators to turn.

Regards

Jim

[ckelly]

Jim,
Glad to help.

Another thing I do at night as I want to step thru a quote sheet with a number of symbols, I will use a 65-min vs. 55-min chart as the 65 min evenly divides into 390 and is 'usually' accurate. That way, I can use the "fast" charts and 'blink' thru the quote sheet and wait about 1 second for the charts to fill, vs. waiting about 20 seconds each time I change symbols with the "accurate" setting. Bottom line, I can get thru my work about 20 times faster and still get sleep at night.

During trading hours, if I see a trade I want, I will quickly switch between 55- & 65-min interval . . . if you see the 65-min has crossed indicators and the 55-min has not, you know the 55-min is whack.

And yes, it cost me a ton of money to learn this - you and others get it free.

Carol

[JimRutherford]

Carol
Thank you for the insights.

Just so I have this right in my mind. I understand that you add a 65 minute chart to your workspace and change the multi-minute bars setting to the faster option. Once you are done your evening work you drop the 65 minute chart and revert to the more accurate bars option. Does this sound right?

And then during the day you switch intervals on your 55 minute chart when considering a trade. Do you change the multi-minute bars setting at that time?

Best

Jim

[ckelly]

Jim,
I don't add any new charts; at night (or even during the day), when I want to get thru multiple symbols without having to wait forever for the charts to fill - here's what I do....

-Set to "fast" charts Preference and then simply switch my 55' chart to a 65' chart. This way, any notes or lines remain intact and that chart is not affected (typically) by pre- or after-market spikes. And the "fast" setting allows me to spend my time working vs. waiting for charts to fill.

-"Blink" thru the Quote Sheet, looking quickly for they types of setup I like. By "blink" I mean I spend about 4-7 seconds per symbol.

-Pick out what I want to focus on, and then review it in greater detail.

-Switch over to "accurate" charts and see if everything still looks the same.


-During market hours, I'll usually keep my Preference on "fast" until I get into a trade (it doesn't seem to lock up like "accurate" does). I will regularly switch between 65- & 55-min interval on the same chart (I don't add any extras).

-Once I get into a trade, I will typically switch to "accurate" charts and leave it parked there.


Hope this helps. Let me know if you want more.
Carol

[JimRutherford]

Carol, thank you very much.

Jim

[ckelly]

Jim,
You're quite welcome. Glad to help.
Carol