I downloaded Forex Market Replay Data from one of your partners (marketreplaydata.com). I understand they get the data from the Ninjatrader servers, so I'm asking you.
My question concerns how the candles of the forex data I downloaded look on the 1 minute charts - compared to "real"/live 1 minute candles. Here's an example:
1 minute Market Replay Data candles the way they look in Ninjatrader:
http://i.imgur.com/OjceR68.png
1 minute candles on any other broker or charting software (in this example I'm showing a Tradingview.com candle):
http://i.imgur.com/FHDN8Ek.png
As you can see, the 1 minute candles on the Market Replay Data
-look very blocky / rectangular / choppy
-almost always have a length of 1 pip between open and close
-almost never show any candle wicks/shadows/tails
compared to the "real" chart I also linked above. The candles of the "real" chart 1) intersect each other, 2) differ in length and 3) have wicks/tails/shadows of differing lengths.
1. Is this normal?
2. And could you explain why the candles of the Market Replay Data 1m candles look like this?
3. And last, is there anything I can do to fix this?
My original intent was to backtest my strategies on a 1 minute chart, which I think isn't possible if the candles look this way. I assume that the "granularity" for the 1m candles recorded by your service simply isn't small enough to show more subtle nuances on the 1m time frame, so nothing can be done. Is that correct, and if so, would you therefore recommend me to backtest my strategies on a higher time frame, such as 5m or 15m?
I've read a lot about trading but I'm still very new as far as real trading and backtesting is concerned, so I'm really looking forward to your response! Love your detailed forum support, by the way!
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