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Start and Stop Time Commonly Used for 4-Hour candles in ES?


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  #1 (permalink)
tamilio
CHARLOTTE
 
Posts: 3 since Jun 2019
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Hello Everyone,
I wonder if this is a commonly known question, but I'm curious to know what time of day most platforms/traders would set the start time for a 4-hour candle in ES?
For example, New York opens at 9:30am EST. Should the 4-hour candle be set to that?
Or, perhaps, it should just be set to midnight EST as the start time?


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  #2 (permalink)
 tr8er 
Europe
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Platform: SierraChart, BookMap
Trading: ES, CL, 6E, 6B
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tamilio View Post
Hello Everyone,
I wonder if this is a commonly known question, but I'm curious to know what time of day most platforms/traders would set the start time for a 4-hour candle in ES?
For example, New York opens at 9:30am EST. Should the 4-hour candle be set to that?
Or, perhaps, it should just be set to midnight EST as the start time?

If I would use a 4-hour chart, I would use the start-time of the trading-day (6:00 PM ET)


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  #3 (permalink)
tamilio
CHARLOTTE
 
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tr8er View Post
If I would use a 4-hour chart, I would use the start-time of the trading-day (6:00 PM ET)

That makes sense.
However, it has the downside the start time of New York Open 9;30am is just before the next 4 hour candle closes at 10AM.
Also, the close of the day at 5pm is off.
But, since there doesn't seem to be a better approach, it seems you are correct, 6pm ET as the starting point.

Would you do the same thing for Daily Candles?


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  #4 (permalink)
 tr8er 
Europe
Legendary Market Wizard
 
Experience: Advanced
Platform: SierraChart, BookMap
Trading: ES, CL, 6E, 6B
Posts: 689 since Jan 2017
Thanks Given: 230
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tamilio View Post
That makes sense.
However, it has the downside the start time of New York Open 9;30am is just before the next 4 hour candle closes at 10AM.
Also, the close of the day at 5pm is off.
But, since there doesn't seem to be a better approach, it seems you are correct, 6pm ET as the starting point.

Would you do the same thing for Daily Candles?

Sorry, I don't understand what you mean by that, but a daily is a daily, start 6pm ET and close 5pm ET. But yes, I also watch the day-session 9:30 am ET to 3 pm ET, but of course with smaller timeframes.


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 HiLatencyTRDR HLT 
Midway florida
 
Posts: 462 since Dec 2018

start it whenever you want


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