Different brokers, different chart patterns!

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Old Jun 24, 2011, 7:33pm   #1
 
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Joined Jun 2008
Different brokers, different chart patterns!

Hi Guys,

Just wondered if anyone else has noticed the difference in chart patterns between different brokers when looking at a timeframe greater than 4 Hours?

I've noticed that brokers use different server times. This causes new bars/candlesticks to form at different times, leading to different formations and chart patterns.

Alpari UK for example has a server time of GMT+1, where as GFT UK runs a server time of GMT-1. Therefore, the 4 hour chart for example, look very different. If traders are entering a position based on a chart pattern or candlestick pattern using 4 hour charts thinking that others too will be seeing the same patterns then you may wish to consider how many traders are seeing the same thing you are.

This is just one example, trader in the US, Australia, Far East etc are all seeing the same price but different charts.

Why don't all brokers use a standard server time? Does more disparity between charts lead to more broker profit?

Anyone else noticed this or have anything to share would be great. As a workaround for this, the best solution I could think of was to use a GMT-1 chart, so atleast NY traders on equivalent GMT-5 charts are seeing the same patterns/candlesticks.
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Old May 31, 2012, 3:40pm   #2
 
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Re: Different brokers, different chart patterns!

So what's the solution to this?
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