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Ignore Sunday daily bars / Merging Sunday+Monday daily bars
 Post subject: Ignore Sunday daily bars / Merging Sunday+Monday daily bars Post rating: 0   New post Posted: Tue 25 Jul, 2017, 14:14 
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Joined: Fri 27 Jul, 2012, 07:04
Posts: 83
Location: Spain, Paracuellos de Jarama
Hello,

When using daily bars in those timezones that plot six bars per week, I'd like to have the option to merge sunday+monday bars in one unique bar with

open = sunday bar open,
close = monday bar close,
high = max(sunday bar high, monday bar high),
low = min(sunday bar low, monday bar low),
volume = sunday bar volume + moday bar volume.
In that way we woud see in the charts 5 bars per week.

Another user selectable option would allow to ignore sunday activity and plotting only 5 bars / week in the chart.

If possible both features are very convenient.

If I have to pick only one I would take merging those sunday+monday bars.

Best regards

Francisco


 
 Post subject: Re: Ignore Sunday daily bars / Merging Sunday+Monday daily bars Post rating: 0   New post Posted: Sun 04 Aug, 2019, 06:13 
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Joined: Fri 27 Jul, 2012, 07:04
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Location: Spain, Paracuellos de Jarama
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 Post subject: Re: Ignore Sunday daily bars / Merging Sunday+Monday daily bars Post rating: 0   New post Posted: Sat 07 Nov, 2020, 16:44 
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Joined: Fri 27 Jul, 2012, 07:04
Posts: 83
Location: Spain, Paracuellos de Jarama
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 Post subject: Re: Ignore Sunday daily bars / Merging Sunday+Monday daily bars Post rating: 0   New post Posted: Mon 08 Mar, 2021, 10:51 
JForex Master
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Joined: Wed 16 Sep, 2009, 18:23
Posts: 1025
Location: Geneva, Switzerland
Ignoring the Sunday market hours is a complete nonsence.

Merging them into Monday is a bit better. But why would the Monday have 27 hours, when the Friday only 21?

Please use the "Day start time" setting in the JForex platform. Set the day start to EET to have 5 neat 24 hours candles in the instruments, which have market breaks on week-ends.

Remember - Dukascopy opens and closes the market in EET time zone.


 
 Post subject: Re: Ignore Sunday daily bars / Merging Sunday+Monday daily bars Post rating: 1   New post Posted: Mon 22 Mar, 2021, 06:53 
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Joined: Fri 27 Jul, 2012, 07:04
Posts: 83
Location: Spain, Paracuellos de Jarama
Hello and thanks for your KIND answer:

>>>Ignoring the Sunday market hours is a complete nonsence.<<<

I'm not sure about the meaning of "complete nonsence" in your answer. I tried to find it in several online english dictionaries to not avail.

If it was a typo and you meant "complete nonsense", not just a nonsense but a complete nonsense, perhaps you'd like to know that it's still a valid option (while deprecated) in JForex strategy API (DAILY_SKIP_SUNDAY). So using that stupid option, strategies were designed and backtested and some of them worked better using that option than others... Illogical? Perhaps, but this is forex trading (trying to extract money from markets not totally efficient).

I only wanted to have the option to manually trade using the chart what I've backtested successfully using one option that at least one of your colleagues didn't find a "complete nonsense" at the time.

>>>Merging them into Monday is a bit better. But why would the Monday have 27 hours, when the Friday only 21?<<<


Yes, another option still available in JForex strategy API (DAILY_SUNDAY_IN_MONDAY), same comments...

To solve the problem that you mention (27 hours on Monday/21 hours on Friday), I ask for now that you add another option that perhaps you like more: Merging Sunday Market Hours into Friday and starting the week on Monday. Doing so we have 5 daily bars of the same duration per week.

>>>Please use the "Day start time" setting in the JForex platform. Set the day start to EET to have 5 neat 24 hours candles in the instruments, which have market breaks on week-ends.<<<

Thanks for your suggestion. I use it very often and works well for some strategies, but not for others.
Additionally this option has an important problem for traders: If you want to enter a position at the open (0 hours EET) the spread at this moment is maximum of the day (sometimes ridiculously big) so for some strategies is not valid.

Thanks again for your KINDNESS.

Francisco


 
 Post subject: Re: Ignore Sunday daily bars / Merging Sunday+Monday daily bars Post rating: 0   New post Posted: Thu 16 Sep, 2021, 04:44 
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Joined: Thu 19 May, 2011, 20:50
Posts: 404
Location: Germany, Munich
We developed a very flexible bar object, that is just fed by ticks.
Therefore we could create this type of extended bars.
It would be best for programming a JForex strategy and it cannot be displayed in the chart directly.
However, it would be feasible to "over-paint" such an extended bar in the chart just with JForex methods.
Maybe this helps?
Last bumped by frangonve on Thu 16 Sep, 2021, 04:44.

 

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