New version 18 available now


Download software Tutorial videos
Subscription & data-feed pricing Class schedule


New account application Trading resources
Margin rates Stock & option commissions

Welcome Guest, please sign in to participate in a discussion. Search | Active Topics |

60 mins & 120 mins bars close incorrectly followup Rate this Topic:
Previous Topic · Next Topic Watch this topic · Print this topic ·
busterram
Posted : Monday, December 08, 2014 11:51:18 PM
Registered User
Joined: 10/9/2011
Posts: 485
Good evening. I wanted to see if any progress has been made on this important bug. Without this fix, 1 hour timeframe and 2 hour timeframe charts of tc2000 cannot be used. It shows incorrect close.
 
Here is a reference to the bug I reported back in July 2014.
 
 
 
All the trading platforms out there such as Tradestation, Ninjatrader, Thinkorswim, tradingview, eSignal, TD Ameritrade, eTrade, MBTrader etc., all show 60 mins bar close at 10:30 and 2 hours bar close at 11:30. Only tc2000 shows both 1 hour bars and 2 hours bar close at 10 AM which is incorrect & misleading.
 
Imagine you are trading based on bar turns. You go long thinking you got a bar turn but no other trader sees the bar turn other than the traders who use tc2000 and you end up taking trade on a bad signal. This affects both charts as well as scans based on hourly and 2 hour timeframes.
 
Please do the needful to escalate the issue to your development management to get it fixed as soon as possible so tc2000 60 and 120 mins chart bars close at 10:30 and 11:30 and not at 10 AM.
 
Appreciate  your help in following up on this issue & resolving at the earlest.
 
Thank you,
 
Bruce_L
Posted : Tuesday, December 09, 2014 2:10:42 PM


Worden Trainer

Joined: 10/7/2004
Posts: 64,508

I have re-submitted your bug report to development.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
StockGuy
Posted : Tuesday, December 09, 2014 2:58:14 PM

Administration

Joined: 9/30/2004
Posts: 9,163

This isn't a bug.  Either the first bar of the day or the last bar of the day has to be shorted since there are 6.5 hours in the trading day.  TC2000 shortens the first bar of the day so the closing values fall at the top of the hour...10am, 11am...3pm, 4pm.

busterram
Posted : Tuesday, December 09, 2014 4:49:41 PM
Registered User
Joined: 10/9/2011
Posts: 485
Thank you for the response Stockguy. If that is a feature, can you please add an option so that the last bar is shortened and not the 1st bar.
 
All the charting platforms I mentioned in my earlier post (Tradestation, Ninjatrader, Thinkorswim, tradingview, eSignal, TD Ameritrade, eTrade, MBTrader etc) the hourly and 2 hour bar closes at 10:30 AM and 11:30 AM.
 
This means 99% of the traders out there, all their charts they see 10:30 and 11:30 close while the some of the traders who use tc2k see bars close at 10 AM & end up taking incorrect signals. Imagine the fate of people trading hourly breakout using 1 hour chart. In tc2k, you end up trading 30 mins breakout because of the incorrect close. 
 
Its ok if you want to call the existing incorrect functionality a feature (or not a bug) as long as you can add an option to disable that behavior and allow traders who want to see the chart the same way all other platform traders see which  is bars close at 10:30 and 11:30 AM for hourly and 2 hour charts. That will help out a lot.
 
Appreciate your help in following up on this important issue.
 
 
 
Bruce_L
Posted : Thursday, December 11, 2014 11:41:20 AM


Worden Trainer

Joined: 10/7/2004
Posts: 64,508

Your request is definitely still under consideration as a suggestion.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
busterram
Posted : Friday, April 17, 2015 11:56:55 PM
Registered User
Joined: 10/9/2011
Posts: 485

Good evening. I wanted to followup on this important bug. Till this bug is fixed 60 mins and 120 mins chart cannot be used as the 1st bar closes in 30 mins while all other platforms and all the traders use close at the right time. Because of this problem

1. Trendline you draw in tc2000 in 60 / 120 mins timeframe are incorrect.

2. The indicators values in tc2000 in 60 / 120 mins timeframe  are incorrect

3. Resistance / Support lines in tc2000 in 60 / 120 mins timeframe are incorrect 

4. The highs and lows in tc2000 in 60 / 120  mins timeframe are incorrect

Only the TC2000 traders will be watching the incorrect lines while all the other traders all over the world have different lines / different support and resistance / differnt highs / lows / closes.

Your strategy could be right but because of the incorrect bar in tc2000 your trades will be a loser.

It has been more than 4 months this important bug been reported but no action has been taken. 

As a way to help and warn all traders about this issue so that they don't loose money trading  incorrect tc2000 60 & 120 mins bars, I will look to post this issue in other places as well to help them.

Considering this bug has been in existence for a long time, I would love for a prompt action by tc2000 development team without hiding behind statements like "We do not know if and when an issue will be fixed". Would love to see some accountability and concrete actions by the development team.

Its sad that important bugs and features are just ignored while some less important features have been added to the latest 12.5 version.  Would love to see a change in how the development team by listening more to paying customers feedback and get those issues addressed at the earliest.

TC2000 is a great software and has great potential to become great if only some of the key issues are solved at the earliest.

Appreciate your help in following up on this issue.

Thank you and have a good weekend.

 

 

 

 

 

 

 

 

 

 

busterram
Posted : Saturday, April 18, 2015 12:03:02 AM
Registered User
Joined: 10/9/2011
Posts: 485

The original bug was reported July 2014. Last time I followed up was Dec 2014. So the bug has been open for more than 9 months.

busterram
Posted : Wednesday, October 28, 2015 7:09:29 PM
Registered User
Joined: 10/9/2011
Posts: 485

I wanted to find out if there has been any update to this. This bug has been open since Jult 2014.

Today unfortunately missed a fill because of wrong # I had from tc2000 60 mins chart as I forgot to remember the fact that 60 mins and 120 mins chart in tc2000 are incorrect because of wrong close.

Thank you for your help.

 

StockGuy
Posted : Thursday, October 29, 2015 9:20:28 AM

Administration

Joined: 9/30/2004
Posts: 9,163

It's not a bug. Our hourly bars end on the hour, not the half hour.  This has always been the case.

busterram
Posted : Thursday, October 29, 2015 10:30:56 AM
Registered User
Joined: 10/9/2011
Posts: 485

Thank you for the response. I understand your point as you had mentioned about that before on Dec 3, 2014 and I respectfully disagreed with you and gave a detailed response to that.  I will make another attempt to do so to help you understand how bad this bug is. As an FYI, I have included feedback from other trader buddies who still use tc2000 in this response below.

Please note that,  that is not how the bar closes in all other platforms. Because its one hour we need to either have a 30 mins bar in the end or a 30 mins bar at open. What tc2000 has done is the 1st bar for 60 mins and 120 mins timeframe close at 10 AM while all other platforms mentioned below they close at 10:30 AM and 11:30 AM. Essentially the 1st bar in 60 mins and 120 mins timeframe is a 30 mins bar. That is a big inconsistency.

All other platforms like Tradestation, NinjaTrader, Interactive Brokers, MultiCharts, TradingView, TD Ameritrade, eSignal, StockCharts all use the 1st 60 mins bar to close at 10:30 AM and not 10 AM.  All these platform vendors do something that tc2000 do not do and the traders who use these platforms do see something people using tc2000 miss because of the wrong bars plotted in tc2000.

So majority of the day traders who use 60 mins chart draw lines based on 60' high and low, use OHLC, scan etc based on a bar close at 10:30 AM. Even the traders who do 1 hour breakout trades use 60 min bar to do the same. Worst is traders who use 60 mins to trail a trade. It plots wrong bar patterns as well. I have done that before and have gotten stopped because of tc2000 incorrect bar low because of wrong close. It may look like a hammer in tc2000 but in reality other 60 mins chart in other platforms do not show a hammer. So only tc2000 traders trading that hammer take that trade and loose on that trade. Ouch. 

In other words, the following is a summary of all the problems because of this bug in 60 & 120 mins chart. Essentially High / Low / Open / Close values are incorrect 

1. Trendline you draw are incorrect. So if you are playing trendline based trading on 60 and 120 mins chart you will loose.

2. 60 / 120 mins scans you do are incorrect. So if you take trades basedon those scans you will loose as the OHLC values are wrong in 60 / 120 mins bars

3. If you trail your stops using 60 / 120 mins bars you will loose on those trades as the OHLC values are wrong in 60 / 120 mins bars

4. If you trail enter based on bar turns in 60 / 120 mins bars you will loose on those trades as the OHLC values are wrong in 60 / 120 mins bars

5. If you trade 60 / 120 mins breakout bar trades, you will loose as the OHLC values are wrong in 60 / 120 mins bars

6. If you use bar patterns like hammer or OB etc you will loose as these patterns are incorrectly plotted in 60 / 120 mins chart in tc2000 and none of the other platforms show that so only tc2000 traders see them and trade them and loose on them

7. If you use indicators to enter a trade using 60 / 120 mins, you will loose as the OHLC values are wrong in 60 / 120 mins bars.

Essentially using 60 mins / 120 mins bars in tc2000 is a recipe for disaster. Trading is already full of challenges and we are adding a unusual challenge because of using a incorrect chart with the wrong bars. Things you see in tc2000 60 / 120 mins chart are not seen in any other trading platform so no other traders react to those signals. So you end up being the only one taking that signal because you unfortunately used 60 / 120 mins charts from tc2000.

Many of my trader friends I have, either use 60 & 120 mins timeframe from other platforms because of the bug / inconsistencies in tc2000 and do not want to loose money using those incorrect charts for the reasons quoted above or they have moved to other platforms permanently because of the lack of such flexibility.

Please provide an option to have the 1st bar close at 10:30 AM instead of 10 AM for 60 mins timeframe and 11:30 AM instead of 10 AM for 120 mins timeframe and . Currently I view the 60 mins and the 120 mins tf in tc2000 unusable for trading and will lead to losses.

I have suffered several losses because of those bugs and hope other traders do not suffer the same losses.

Please do the needful to address this issue at the earliest.

Thank you for your help.

 

 

busterram
Posted : Thursday, December 31, 2015 10:04:39 AM
Registered User
Joined: 10/9/2011
Posts: 485

Good morning. Wanted to see if there is any traction on this old issue. Some of us subscribe to another platform just for 60 / 120 and 240 mins timeframe charts as those timeframes are incorrect in TC2000.

Thank you for your help in advance on following up on this issue.

 

 

Steve_S
Posted : Friday, February 05, 2016 1:11:36 PM
Registered User
Joined: 1/31/2016
Posts: 3

As a new user of TC2000 I find it a huge disappointment and let down on what was a software package I was really enjoying. A decision on if TC2000 is going to make a change or continue drawing hourly charts in this fashion should be communicated to the community that pay for this software. Whether it is a bug, intentional design, a technical limitation of the software, or has just always been the case is not as important as communication on whether or not this will be changed, and a timeline for doing so. I don't understand what the reasoning behind using a different time to close hour candles then every other platform is.

I have mostly been a user of eSignal and ThinkorSwim, but have used many different platforms. I recently just started with TC2000 and was investigating whether or not to use the TC2000 brokerage so I can trade from within TC2000. As I was scanning on hour candles charts something seemed way off and I noticed the times on the candles. A quick google search led me not only here, but to many other websites where traders gather. I was amazed at how many people out there flat out refuse to use TC2000 because of this issue.

This is a major barrier in TC2000’s success with attracting customers to using the brokerage and trading from within the platform. 

Changing the times that the bars close, not only would help the current user base, it would attract more customers for TC2000 and the brokerage. It would also communicate to current users that TC2000's administration cares about the quality of its product and is willing to address the concerns of its community.

By closing the hourly candles in a different time then every other charting package, including free ones, it gives a dramatically different picture of price action to TC2000 users. This makes it impossible to trade 60min charts. Hammers, haramis, dojis all appear incorrectly.

Having bars/candles close at a different time also ensures that a user of TC2000 will receive a different and later trade signal by a half hour.

The attached picture shows a comparison of ThinkorSwim and TC2000 for YHOO covering the exact same time on hourly candles. The differences in the overall price picture are dramatic to say the least.

Thank you for continuing to look into this and open communication on how TC2000 plans to move forward. 

Bruce_L
Posted : Friday, February 05, 2016 1:43:22 PM


Worden Trainer

Joined: 10/7/2004
Posts: 64,508

Thank you for your suggestion.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Crinklebine
Posted : Friday, February 19, 2016 9:34:47 PM
Registered User
Joined: 2/16/2016
Posts: 2

The handling of the 60 minutes in TC2000 is a chance for improvement.

In Forex, Futures the 60 minutes is fine since these run 24 hours and open on the hour.

In US stocks the first 60 minute bar should run between 9:30 and 10:30 to be consistent with common technical analysis practices.

This 60 minute issue also effects EasyScan results too.

Perhaps introducing Hourly - US, 2 Hours - US, 4 Hour US could be added as time frames to fix the EasyScan. But then the chsrt will still be off.

It is a bit of tricky problem to solve it seems because it was not thought of when the software was originally designed that some markets open on the half hour.

I use TC2000 for the EasyScan feature. I do my charting at a competitor because they handle the 60 minute charts properly. 

It would be nice to see TC2000 work on this.

alanbev74
Posted : Thursday, March 03, 2016 2:04:11 AM
Registered User
Joined: 3/29/2011
Posts: 2

I just checked with stockcharts as I also use them and they display same as tc2000

THIS IS NOT A BUG

The charts in tc2000 are correct for hourly charts ending when the hour ends.

 

busterram
Posted : Thursday, March 10, 2016 6:33:52 PM
Registered User
Joined: 10/9/2011
Posts: 485

Crinkebine: I agree with you. Almost every chart platform out there has hourly chart meaning 9:30 to 10:30. The most popular breakout signal is hourly range breakout which is the breakout of the range from 9:30 to 10:30. So hope tc2000 fixes this asap. This affects charts as well as scans. For now I do not use tc2000 for 60 or 120 or 240 as all those timeframes are incorrect and you loose money by using those candle patterns as only traders using tc2000 see those while majority of the other traders don't. I have been debating to discontinue using tc2000 for the exact same reason as i already subscribe to tradingview as well. I do like tc2000 a lot but some of the bugs they have just bothers me and the worst part is they never get around to fix it. It looks like the management team just trying to continue to make money with the least amount of time for fixing anything. Too bad a good software is getting wasted because of useless management.

 

Alanbev: I disagree with you. Please read through the entire thread once more. Hourly chart is meant to go from 9:30 to 10:30, 10:30 to 11:30 etc. Thats how every trading platform out there has and that is how majority of the traders out there use the 60' timeframe. If you like to use the incorrect way like how tc2000 has may be they can provide an option to switch it the normal way most trading platform has so the traders who prefer that use it. Others who like the current incorrect way can continue to use the incorrect way based on the option to switch either way.

Thank you...

Users browsing this topic
Guest-1

Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.