URGENT fix required: Data/Time Shift and Weekend candle option

Sources of data to import to the program
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FunnyFX
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Joined: Sun Mar 05, 2017 7:00 am

URGENT fix required: Data/Time Shift and Weekend candle option

#1 Postby FunnyFX » Sun Mar 05, 2017 8:51 am

I have come across some issues with FT3 and trying to replicate the number of candles to the actual week and indicators like Pivot Points to line up with the actual start of the trading day.
Test period: AUDJPY Mon Feb 6th 2017 to Sun Feb 19th 2017, i.e. 2 weeks of data
Comparison: FXCM data available on current Marketscope
What I *should* get:
Data to start at the beginning of the trading week when retail traders have access to put in orders. On FXCM this is 10pm GMT. There should be 5 daily candles a week. If you use IDC data (e.g. on Trading View) then the trading day starts at 11pm GMT. For the sake of practicality I am ignoring when there are local time changes in the UK and New York which otherwise moves data around. In real terms the data does not change, only the local time represented on the screen. If you are in a different timezone then your broker/charting software may display the data using local time rather than GMT.

What I get "out of the box" with +0 shift:
Data beginning (at the far left of the visible FT3 chart) at 11pmGMT, but listed as 0000hrs. The data starts in line with IDC data, but is represented incorrectly.
The start of the trading day indicated at 0000hrs - incorrect whether you use FXCM or IDC data standards
Pivot points starting at 0000hrs - incorrect
24 hour candles before the 7th Feb 0000hrs marker
The last candle of the Friday marked at 2200hrs
An extra hourly candle at the far right of the chart before the start of the following trading week (outside the data range), in this case at 2300hrs
6 candles a week, with the erroneous candle being the weekend candle *before* the start of the *following* week (based on the extra hourly candle as mentioned above) - for which there is NO way to turn off (the weekend candle) within FT3 as far as I know

What I get with +1 time shift:
Data beginning (at the far left of the visible FT3 chart) at 0100hrs.
The start of the trading day indicated at the correct location compared to FXCM but listed as 0000hrs - timestamp incorrect whether you use FXCM or IDC data standards
Pivot points starting at 0000hrs - incorrect
23 hour candles before the 7th Feb 0000hrs marker
The last candle of the Friday marked at 2100hrs
(Still) An extra hourly candle at the far right of the chart before the start of the following trading week (outside the data range), in this case at 0000hrs
(Still) 6 candles a week, with the erroneous candle being the weekend candle *before* the start of the *following* week (based on the extra hourly candle as mentioned above) - for which there is NO way to turn off (the weekend candle) within FT3 as far as I know

So what the timeshift seems to do is just cut data from the start of the set that is displayed, essentially moving the candles themselves across (in a sense)
It does NOT alter the time indicated on the FT3 chart for the start of the day. That is what you would *expect*. My *trading* day at +1 GMT should start at a different time to someone living in +0 GMT. We should not both be starting at 0000hrs.

So that means:
- you MUST use a timeshift to align the supplied Forexrite data to the ACTUAL TRADING DAY
- altering the timeshift DOES NOT change the *start* of the trading day to what it is in your LOCAL TIME
- the above point means that the indicated time point that Pivot points are drawn will never be correct if you time shift; and in any case will always start at 0000hrs
- if you are testing on the daily chart, you seem to have no way to remove weekend candles OR incorporate them into the Monday data (as FXCM has the option to, which makes them more similar to IDC charts)

I would suggest that the above provides a LOT of CONFUSION.
The weekend daily candles and the lack of option to remove them or incorporate data into Monday *is a serious oversight* which potentially renders FT3 useless if you work off the Daily chart in any way. Whether you use an automated strategy or not - how do you account for the weekend candle??
This would not seem to affect you if you use the 1 hour chart, however I have not tested intraday timeframes larger than 1 hour (e.g. 4 hour), which I suspect may be affected as the time shift would push the boundary of the higher timeframe intraday candles around changing their shape *completely*.
I also believe the use of "Time Zone" when creating a new project is extremely confusing! As it does NOT do what it implies. It should be renamed "Data Shift" or some equivalent.
It would then be nice to actually have a Time Zone feature - where the displayed timestamp in FT3 acutally refers to the local time, as set in the Time Zone feature.

I would have expected the programmers to pick this up much earlier, but at least I am bringing it to your attention now.
Please implement some changes URGENTLY as this will not only improve the functionality of FT3, but save a lot of confusion and headache for users (as evidenced by some of the posts already in the forum)

Attached 2 Files:
FT3 +0 Daily - note Sunday candles
FT3 +0 1H - note Pivots start at 0000hrs, arrow shows extra 1H weekend candle
FXCM Daily - for comparison (Weekend data merged option selected)
FXCM 1H - note candle that Pivot starts on
FT3 +1 Daily - **NOTE CANDLE SHAPE CHANGES** (arrowed ones are more obvious but most affected), note one of the Sunday candles are now missing (middle one gone, end one still there)
FT3 +1 1H - note Pivot starting point correct (but indicated time incorrect), chart starts at 0100hrs
Attachments
FT3 Daily combo.jpg
FT3 Daily combo.jpg (337.18 KiB) Viewed 1736 times
FT3 1H combo.jpg
FT3 1H combo.jpg (1.11 MiB) Viewed 1736 times

FX Helper
Posts: 957
Joined: Mon Apr 01, 2013 3:55 am

Re: URGENT fix required: Data/Time Shift and Weekend candle option

#2 Postby FX Helper » Sun Mar 05, 2017 10:44 am

Hello,

All our data are provided in GMT+0 time zone while FXCM broker works in GMT+2.

It doesn't matter what time zone you select in the program, the testing is always started from 00:00.
You can only decide the bar that will be the first bar of the day by changing the time zone of data when creating a new project.
This is not a bug, this is how our program works.

If you don't want to see the data for weekends and want to see the same candles as in the broker platform, please create a new project with GMT+2 time zone, in this case you will have the same charts as in the broker platform.


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