1
votes
Fake Tails on bar/candle
submitted by lundy 1 year, 1 month ago

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Candle and bar charts are showing very small fake tails on all Forex pairs.  I'm not sure if it's also doing this on stocks.

Is this for aesthetic reasons?  I would like the option to turn this off, or just fix it.  

Every bar that has a body has a tail, and this is inaccurate, as sometimes the bar closes at its low, or at its high.  I don't want to see a tail on either end of the bar unless it is accurate according to the info box, as this is misleading.

It is easiest to spot these inaccuracies in the smaller timeframes.

If you need a picture, I will send one in the comments, as I can't seem to add a picture in the main post.

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Users who voted for this idea:
lundy

Comments:
Example?
posted by ross_ditlove 1 year, 1 month ago
File / Publish Chart to Web / then paste the link so we can see please.

R
posted by ross_ditlove 1 year, 1 month ago
File / Publish Chart to Web / then paste the link so we can see please.

R
posted by ross_ditlove 1 year, 1 month ago
My Desktop Pro charts aren't coming up, maybe because it's the weekend. But I saved a chart earlier and you can view it here:

http://tinypic.com/r/rh4lqq/7

Please note the green arrow and the infobox. The blue arrows show that this is common. This particular pair is EUR/GBP.
posted by lundy 1 year, 1 month ago
Also, if these tails are added onto candles that shouldn't have tails, the real tails on candles may also have them added on which would make them appear a little larger. This is not easy for me to see but I'm sure the developers will be able to find out the full scope of the issue.

This is relevant to my specific trading because I like to know whether the price crossed the previous open/close, whether it gapped away from it, or whether it touched it.
posted by lundy 1 year, 1 month ago
I looked at several bars myself and what I believe you are seeing, because FX does not have trades, is that the low is put in as the bid price of the new bar and the Open is the Ask. I can verify this on Monday however I sense that this may very well be a function of a market that has no trades to plot and thus the tail is the spread of the new bar. If my theory is correct then you would end up with a wick for all bars as well which I believe you do.

R
posted by ross_ditlove 1 year, 1 month ago
These fake tails are there even on a 1 min chart, where the entire bar is often less than the bid/ask spread...
posted by lundy 1 year, 1 month ago
If my theory is correct they would be on one tick. Remember FX does not print trades.
posted by ross_ditlove 1 year, 1 month ago
I just had a look at the Desktop platform, and there are none of these fake tails.
posted by lundy 1 year, 1 month ago
Lundy,
I am not sure what your comment means? We believe the bars are being created properly for FX given that we are plotting Bid updates without trades. If you can show me something else that would indicate otherwise I would like to explore that. In the mean time I'm going to mark this as "no implementation".

Thank you for the sharp eye.

Ross
posted by ross_ditlove 1 year, 1 month ago
I have re-reviewed this. I think you may be on to something.
posted by ross_ditlove 1 year, 1 month ago
Bug found, will fix.

R
posted by ross_ditlove 1 year, 1 month ago
Fixed in next version
posted by ross_ditlove 1 year, 1 month ago
thanks.
posted by lundy 1 year, 1 month ago



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