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I was wondering how to calculate the open and close on a minute chart with my own pro

Discussion in 'General Forex Talk' started by maxoup, Jul 27, 2011.

  1. maxoup

    maxoup Recruit

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    Hi,
    I was wondering how to calculate the open and close on a minute chart with my own program. The tick level shows hh:mm:ss:millisecond.
    When I look at a candle, does a minute chart,
    1/ open at minute:00 and closes at minute:59 or
    2/ open at minute:00 and closes at minute +1 :00?
    ie how is the 1 millisecond accounted?
    Waiting for your answer
    thank you
    max
     
  2. Pharaoh

    Pharaoh Colonel

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    Egad. That's a new one.

    I don't think the millisecond needs accounting for.

    Either the minute begins at 00:00:00:000 and ends at 00:00:00:999 or else it begins at 00:00:00:001 and ends at 00:00:01.000

    If you really can chart it to the millisecond, I think either way would work similarly to other charting programs. The price differences between brokers, even ECN brokers, would likely average more than the price differences between 2 adjacent milliseconds.
     
  3. maxoup

    maxoup Recruit

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    I am not interested in price at all but in time only.


    I am not interested in price at all but in time only. Unless I'm mistaken, 1 millisecond / minute x 1440 minutes/day x about 250 forex days equals about 6 minutes /year. Would you buy the most expensive rolex watch knowing you are going to be 6 minutes off at the end of the year?
     
  4. Pharaoh

    Pharaoh Colonel

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    How would one second ending at 00:00:00:999 and the next beginning at 00:00:01:000 be losing a millisecond?
     
  5. RahmanSL

    RahmanSL Major

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    Whoooh!...now we are talking trading in microsecond????
    That must be one heck of a trading system where every microsecond counts!

    ...and here I am, all stressed out, if I have to trade every day!
     
  6. Pharaoh

    Pharaoh Colonel

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    I think we're talking about milliseconds, not microseconds.

    Still, even if one millisecond were lost each minute, it would reset at the end of each trading week. If each week is 5.5 days long, that would come to:

    5.5 days * 24 hours * 60 minutes = 7920 mil.iseconds. So, in a week, you would lose 8 seconds. Not good, but not world shattering.

    Overall, I still don't see how a millisecond would be lost.
     
  7. RahmanSL

    RahmanSL Major

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    Oohh ok.....so you were referring to one thousandth of a second (millisecond) instead of one millionth of a second (microsecond) : )

    Hmmmm...still one heck of a super fast system in the realm of star wars!
     
  8. Pharaoh

    Pharaoh Colonel

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    Either way, I really don't see how fractions of a second could disappear. The only real question is which platforms open the second (or minute) at .000 milliseconds vs .001 milliseconds. Even then, if you go the other way, I don't see it making a huge difference.
     
  9. RahmanSL

    RahmanSL Major

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    Hey Pharaoh, it seems the person who got us talking in millisecond and microsecond is not around to clarify the importance of these fractional time frame : )
    I suspect that person might be in hyperspace as we speak/write.
     

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