Posts Tagged ‘eSignal’
Ever since I’ve started trading I am looking for good charting package. I tried Sharescope and eSignal and didn’t like the interface. At the moment I am using IG Markets advance charting. It is quite good but there is a big problem. Have a look on this chart of Rio Tinto
See the third candle from the right (where the red line is)? on this chart the high of Rio Tinto on the 4/8 was 3503 and it is outside bar of the candle before.
I am using a lot the inside & outside bar patterns so I would create an order to buy the next day at 3505 or so.
The problem is that this price is fake. Rio didn’t even came close to this price. You can see it on the chart from MoneyAM website:
The high of that day was 3440. Huge difference! So what is going on? From time to time IG and other spread betting providers have some problems with the data they get and the prices jump for a second much higher. This doesn’t affect your positions and orders but it does affect the chart you see. So you can’t really trust them. It is like driving 80 MPH while your meter says you are only 70. Then try to explain it to the police officer.
It is a shame because their charting package is quite good and cheap (£30 a month free if you trade 4 times) but they don’t clean the data and it is a problem.
I am still looking for good package! Anyone?