Eur/usd daily chart Prophet vs thinkorswim shows different results

so are you saying a bid basis chart is the incorrect one to look at for forex?

Still though there are days missing in the TOS charts, wouldn't you think that would compress the channel therefore enableing that last bar on the daily chart to appear to "break out" since the channel is thinner than on the prophet chart?
 
Quote from Masterchanger:

Geez do any of you guys trade forex...Look closely:
The TOS charts are on a "bid" basis not on a closing trade basis like the phophet charts. So you can have a bid up to a point and it will give you a greater range than if you had a close only chart. Thus the candle will appear to show a breakout.

On a bid basis chart, what moved the candle is the bid, the closing price of the candle may not move at all and the changeing bid is used to create the candle. The gold square is the last trade the cyan is the bid and the purple is the ask. notice how the last price on the chart is the bid not the last trade.

http://screencast.com/t/ZTlkZjg0O
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Brilliant observation. Now explain how how 2 days are missing because of the difference between the Bid & Close price.

Look c l o s e l y

:)
 
With TOS charts under chart setting you can change the charts to bid, ask, last, close. bid last ask look virtually the same but what changes to create the candle are what your selecting. If you choose close then you will have a scatter alot of dots and some "candles" without wicks so not too useful for trading in my book.

I use the charts set to bid everyday so they are ok for trading and your only other options are what I explained above.

As to your channel thing, I gave my best guess.


Good Trading.
 
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