Retail Trading Chart Data Accuracy FAQs

Published by Saket Kumar on
8th Dec, 2016

Hi everyone,

For traders doing internet based trading, charting data is crucial in deciding the entry and exit of stock/scrip they are interested in. Thus chart data accuracy is of utmost importance.

Tick By Tick vs Multicast data

The data coming from exchange has different source and the accuracy of the chart data (Open,High,Low,Close,Volume or OHLCV) created depends on that. Those are-
a)Multicast UDP data: It contains aprrox. 1 tick per second per scrip
b)Tick By Tick data(TBT) : It contains all the ticks per second per scrip

Almost all brokers in India use multicast data for broadcast on Market watch and for creating chart data which is accurate enough for retail traders to take their trading decisions. But people who need 100% accurate trading data (may be for their strategy based trading), need to contact authorized data vendors in India or directly exchange to purchase this data. More details for NSE exchange is here.

As we can see, using Multicast data source, chart data won’t be 100% accurate unless data source used is TBT. Hence,to help the brokers, exchange comes up with a Bhavcopy data at the end of the day, which has the day’s correct (OHLCV). The brokers who are providing daily chart(EOD chart) to their clients adjust the chart data(after trading hours) accordingly to the bhavcopy data. Thus, the EOD chart will be 100% accurate as per TBT. Hence, people doing backtesting on EOD data will not be affected at all (even the data source is Multicast data).

Pre Market Open Session

Note:For Nifty Stocks(for NSE CM) and Sensex stocks(for BSE CM) Pre Market session is 9:00 am to 9:15 am (generally till 9.07am ,rest 8minute is buffer period)

Pre Market Open Session is conducted to find out the Open Price or Equilibrium price for the trading day. More details about Pre Market as per NSE official site is here .

Thus,Open price for a minute chart (which is the 1st Last Traded Price)  at 9.15 am may not match with the open price of EOD chart(adjusted with bhavcopy which also contains equilibrium price).To have a real example for 8th December for INFY-EQ of NSE CM:
As seen from Screenshot 1, Equilibrium price of INFY-EQ is 970.05, hence in the EOD chart and bhavcopy too the Open price would be 970.05. In Screenshot 2 which is a minute chart we can see the Open price as 971.55.

Screenshot 1

Screenshot 2

 

                                                                                                                                                        

Thanks for reading!


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Comments: 11

  1. Chirag December 21, 2016 at 10:19 am

    Hi,
    Good post.
    What causes candles to be missed(not plotted) in live intraday charts ?

  2. Saket Kumar December 21, 2016 at 1:35 pm

    Hi Chirag,
    It can be due to various reasons,such as internet drop/PC going to sleep.Though user can do manual refresh of the chart by either changing time frame from 1min to 2 min etc or by pressing Ctl+F5 in Pi

  3. Ktos January 5, 2017 at 9:57 pm

    Thanks for constantly updating Pi with new features and improvements.
    However, Still waiting for some basic features,
    1. Price Alert (without any trick like EA or anything.) I mean just right click and set a price and it will popup whenever the price target is hit with an alert. Enable Price alert in market watch as well as a feature on trendline/horizontal like after right click.

    2.Have requested this many times, still waiting for update.. Please enable to open unlimited number of charts simultaneously. Current limit is 12 and that is too limited. Please cancel the limit and let us open any number of charts.

    3. More drawing tools like ARROW, Fib Extension, Filling color within Rectangle and other tools, Channels. (I see Kite has channel drawing tool but Pi doesn’t. Please bring it in next release.)

    4. Allow Fib customization option like we can select any number of value/ratios that we want and not be limited by it.

    5.Please readjust the horizontal line movement. I mean even when setting custom price, I notice the line moves whenever we zoom in or out or resize a chart. Please fix this so no matter what, the price always displays EXACT value we set.
    Also I notice, when I set say, 125.70, many times the line would show 125.83 or 125.77 or anything like that. This defeats the entire purpose of custom price setting. Please fix this issue.

    Thank You!

  4. Vivek January 8, 2017 at 4:34 pm

    In addition to what has been posted by Ktos.

    1. Fib drawings with an option to snap to the price (eg: Low or High of Candle)
    2. Ability to save & load custom chart layouts for multi-monitor setup
    3. Ichimoku indicator on the charts
    4. Chart scrolling with mouse wheel i.e. zoom-in does an auto focus on the latest candles instead of zoom in the middle of the chart as it happens now

    If the above is incorporated I can finally say bye bye to Trade Tiger

  5. Saket Kumar January 12, 2017 at 10:42 am

    Hi KTOS,
    1)We can have this in future,currently “Create scripted alerts” can be used to achieve this,
    2)This,can be tricky as the performance can be degraded on opening too many charts.
    3,4)We will look into it.
    5)Yes,there is a precision loss on zooming in/out chart,we will look into it.

    Hi Vivek,
    1)We will look into it.
    2)This we will have in the next release of Pi ie instead of save/load workspace(which saved only the marketwatch scrips and charts),we will have save/load layout.
    3)We are working on this,we have this ready without the clouds,but that will be somewhat less beneficial to users.
    4)You can use shortcut keys HOME and END to move to the start/end of the candles,the zoom is different in Pi.

  6. Brill January 18, 2017 at 11:14 am

    Dear Sir,

    If i could draw PDH, PDL, PDC lines with a single click in Pi would be very helpful. Also Previous Week HLC will also helpful in getting a good assessment of Price action.

  7. Vivek February 1, 2017 at 10:26 am

    @Saket

    Agree that the zoom in Pi is different. But what is provided in Pi is not user friendly.

    If I zoom & press END to move to the latest candle it auto zooms out. So if we need to focus on the last few candles it is not easy. eg: Display a chart with 1 H for 30 days & zoom-in first & press END, you will notice that does an auto zoom out to show the last candle

    Hence it would be better to provide the zoom to the latest candle as default or atleast as an option in the settings

  8. Saket Kumar February 1, 2017 at 11:11 am

    Hi Brill,
    Sure we will try to incorporate this .

  9. Saket Kumar February 1, 2017 at 11:16 am

    Hi Vivek,
    Yes ,the zoom in we have changed and will be user friendly now ,it will be available soon in the coming release of Pi.Also right click on the chart there is option of zoom selected area as well.

  10. Shiv kumar February 24, 2017 at 2:08 pm

    If possible in future pls provide us option to select third party real time data for pi charting. Thanks

  11. White Noise May 27, 2017 at 2:34 am

    Link exchange is nothing else however it is only placing
    the other person’s webpage link on your page at suitable place and other person will also do similar for you.

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