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Are these chart times correct?
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Normal for tick-based bars?
Sure, it happens.
This phenomenon never happens for time-based bars.
In a highly volatile fast paced market, esp in short bursts (perhaps around the open,
or economic news, etc) it is very possible and quite normal to see many bars on
Renko and Range charts with the exact same timestamp.
Remember, Renko and Range define their bar close event by recognizing when a
new tick must start a new bar. Well, for a fast moving market on a 50-Renko bar
chart, price could actually move greater than 50 ticks on the chart in 50 or less
real-time ticks from the data feed. How so? Some prices are being skipped,
because orders at those prices are very thin, so price will jump around quickly
and easily as the auction matches up buyers & sellers to satisfy the incoming buy
& sell market orders.
For that short period, the bid-ask spread could be higher than normal, due to fear
and uncertainty at market open or the news event. Mainly, I would suggest it is the
scarcity of resting orders at the various nearby price levels, and the fact they can
all be eaten up very quickly with any large order -- that's how you get fast paced
highly volatile, seemingly erratic, price movements -- it's just the auction software
doing its job by matching buyers and sellers for the incoming market orders.
-=o=-
I see the time of the area you circled is 8:30 am, so I presume your time zone is
US Central, because the equity market would have opened at 9:30 am Eastern.
In my experience, to see NASDAQ go wild at market open is not unusual.
(As far as 'normal' I don't watch NQ/MNQ at the open that much, but sure, it can
happen, perhaps not very often, but it's always possible. The last time I recall
really high volatility and crazy erratic price movements being 'normal' for days
on end was at the height of Brexit.)
Are the times correct? Probably.
When you find such bursts on the chart suspicious, you should always start by
reloading the historical data. Also, check a 1-min chart, the same time on the
1-min chart should show a bar with a wide range (and probably large volume).
If you look at the volume of those bars on your 50-Renko chart, most of them
will probably have very low volume. Why? Because price was so erratic and
jumped so quickly, volume didn't have time to build up.
My point is, on your Renko chart, you'd see low volume bars all with the same
time stamp during fast paced periods, but on 1-Minute charts, you'd probably
see wide range bars with lots of volume.
Just my 2˘.
Last edited by bltdavid; 12-11-2021, 08:11 AM.
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Hello ezrollin,
Thank you for your post.
Glad to assist. As mentioned, as renko are not time-based bars, so this can happen to be correct based on volume / volatility.
You may middle mouse click and hold > mouse over the bars to verify the tick times received.
Please let us know if we may assist further.Eric B.NinjaTrader Customer Service
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