Hi Team,
I have this basic question about candle formation. Kindly solve it :-
Lets say i am looking at hourly candlestick pattern.
OHLC at 3:15 is collected during 2:15 to 3:15 but then what about OHLC at 9:15 ?
Is it collected from previous day ? As market opens at 9:15 we will not have any prior data for the day so how they decide open, high,low, close at 9:15 ?
Formation of the candle will begin at 9:15, when markets open, so taking your above example of 1 hour timeframe, the formation of the candle will complete at 10:15.
new candle will start forming from 9:15… check the charts you will see 1st candle of the day starting at 9:15 and ending according to timeframe 5, 10, 15, 30, 1 hr you are looking at…
Hi Subhash,
Perhaps i couldn’t state my question clearly. You select any scrip and choose hourly candle. You will see total 7 candle. The first candle says it formed at 1/1/2021 9:15. My question is the OHLC or HL data is taken from which time frame ? 9:15 to 10 :15 ?
Similarly you will see a last candle at 1/1/2021 9:15 3:15. Now HL data for this candle is taken from which time duration, 2:15 to 3:15 ? if you say yes then for 9:15 candle OHLC data is coming from previous day ?
Thanks for your help
For any time frame you are viewing, the OHLC data for the candlestick, will be from that period only.
Eg. if you are viewing 1 hour timeframe amd if you are seeing 9:15 to 10:15 candle, OHLC data for this candle will be from 9:15 to 10:15, same applies for other candles.
In that case how the candle will be formed at 3:15 because there is no time aftwerwards and day will be over.
Candle at 3:15 :- High and low data will be taken from 3:15. - ?
How the Very First and Last Candle will be Formed ?
It’ll be taken from 3:15 to 3:30.
The high and low of 3:15 will be considered only for 15 min even for hourly candle or 3 hour candle