From 23 rd of January 2021, we are calibrating our candle open time to respective market open timing. Here are some important details we want to share so that you are well prepared for the change.
What will change on the charts?
The candles on the intraday charts on Market Pulse will now all start at the time the market opens, rather than the standard times they used to start at earlier.
How will this change the candle timings?
Depending on the timeframe you follow, the first candle of the day will start at the following times on NSE.
For MCX users, the changes will take effect for 2 Hour & 4 Hour charts only. The rest of the candles will stay as they are, as the exchange opens at 09.00am.
Why are we doing this?
Earlier, Market Pulse had set the chart timings to international standards of forex markets which trade 24 hours a day. But with NSE trading starting at 9.15 AM, this did not capture the entire time of the candle if you were looking at longer timeframe intraday charts like 30m, 1H, 2H and 4H.
By making this change, the last candle of the day gets shortened. But, capturing the entire time of the first candle will be more appropriate for day trading. Moreover, most other charting platforms also follow this norm. So if you’re using Market Pulse for analysis, and switching to another platform to continue your analysis or make a trade, you will have a more uniform experience.
What happens to my indicators, alerts and scanners?
As the candle times change, this could cause a change in the values of the indicators, which in turn could cause your alerts and scanners to set off a few alerts that may not be desirable in the next 2-3 days. However, this should normalize in 1 day for shorter timeframes (5m,10m, 15m) and within a maximum of 3-4 days for longer timeframes (30m,1H).