Tyler Brooks
TradingView is a platform that provides users with the ability to track and analyse financial markets. One of the key features of the platform is the ability to view and trade based on candle charts. These charts consist of candles that represent the price movement of a security over a specific time period, with the width of the candle representing the time interval. While the daily candle close time on TradingView is usually locked to UTC +3, there have been discussions about adjusting this time to align with specific time zones or market openings. For example, a user trading on the New York timezone (UTC-4) observed that the daily candle opened at 17:00 instead of midnight. Another user from London desired to change the 4-hour candle open and close times to sync with the London market opening at 8 am. Understanding the daily candle close time in one's specific time zone is crucial for making informed trading decisions and effectively utilising the TradingView platform.
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What You'll Learn
TradingView's countdown feature
TradingView is a platform that provides live quotes, stock charts, and market trading ideas. The platform offers a countdown feature that allows users to view the remaining time until the close of a candle on various timeframes, including M15, H1, H4, and D candles. This feature is available on both desktop and mobile devices and can be customised to show or hide specific time values.
The daily candle close and open times on TradingView are locked to UTC +3. This means that, regardless of the user's timezone, the daily candle opens at 17:00 UTC and closes 24 hours later. This standardisation of open and close times can be beneficial for traders who want to align their trading activities with specific time zones or market hours.
However, some users have expressed a desire for more flexibility in adjusting the open and close times of the candles to match their specific needs. For example, a user based in London with a day job wishes to trade on the 4-hour chart, but the current candle timings on TradingView do not align with the London market hours. This user would prefer the candles to open at 8 am, coinciding with the start of the trading day in their local market.
TradingView has demonstrated responsiveness to user feedback, implementing features such as the countdown on any time interval based on user requests. The ability to customise candle open and close times could be a valuable addition to the platform, enhancing its utility for traders with specific requirements or those operating in distinct time zones.
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Open/close times for day candles
TradingView users have expressed the need for the platform to allow adjustments to the open and close times of day candles on their charts. This is because the open and close times for day candles are locked at UTC+3, which means that the daily candle opens at 17:00 instead of midnight in the NY timezone (UTC-4). For users in London, this means that the 4-hour candles open at 2am-6am, 6am-10am, 10am-2pm, etc, rather than opening at 8am with the London markets.
A tool that displays the remaining time of day candles until they close is available on TradingView. This tool works on all timeframes and with all the exact data of the desired timeframe. Users can also customise the display of remaining time values by showing or hiding them, and they can also view previous candle close times.
In response to user feedback, TradingView has also added the ability to display a countdown to the close of day candles on any time interval. This means that users can view a countdown to the close of 1-day, 1-week, or 1-year candles, for example.
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TradingView's ability to change open/close times
TradingView does not currently have the ability to change the open and close times of the candles on its charts. Users have, however, expressed a need for this feature. Some users have noted that the Binance 4H and daily candle closes are different from the rest of the fx and stock market, which influences prices.
There is a simple tool that displays the remaining time of M15, H1, H4, and D candles until they close. This tool works on all timeframes with the exact data of the desired timeframe. It can be useful when using OHLC, AMD, and other theories as you do not need to scrub back and forth through different timeframes to look for a bar close. There is also a mobile version of this tool.
Users have also discussed the difference between the times of day candles ending on futures. One user noted that they thought day candles ended at 3:59 pm EST for equities, but this did not seem to be the case for /CL1!. Another user noted that on the 4H chart, the candles open at 2 am-6 am, 6 am-10 am, 10 am-2 pm, etc., and they would like these times to be in sync with the market in London, where a candle would open at 8 am.
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TradingView's 'Remaining Time' tool
TradingView is a platform that provides users with tools and functionalities to aid in their trading activities. One such tool is the "Remaining Time" indicator, which helps traders keep track of the time until the next candle close.
The Remaining Time tool displays the exact time remaining for various candle durations, such as M15, H1, H4, and D candles, until they close. This feature is particularly useful when employing trading theories such as OHLC and AMD, eliminating the need to switch between different timeframes to identify bar close prices. The tool is designed to work in real-time across all timeframes and desired data ranges.
To enhance user experience, the Remaining Time tool offers several customisation options. Users can choose to show or hide specific time values, ensuring a personalised view of the data. Additionally, the tool includes a Previous Candle Close column with colour-coding for easier identification. The mobile view of the tool has been optimised for compactness and convenience when using it on smartphones or tablets.
It's important to note that the countdown feature of the Remaining Time tool is not compatible with certain chart types, including Renko, Kagi, PnF, Line Break, and Range. These chart types lack fixed time intervals, making it challenging to display an accurate countdown. To ensure the smooth functioning of the tool, users are advised to synchronise their computer clocks with NTP time servers.
The Remaining Time tool is well-regarded by TradingView users, who have expressed their satisfaction with the ability to track time frames accurately. However, some users have requested enhancements, particularly regarding the ability to adjust candle open and close times to align with specific markets or trading strategies.
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TradingView's 'Previous Candle Close' column
TradingView's Previous Candle Close column is a powerful tool that enhances intraday trading by providing clear visual cues of the previous day's price action. This indicator outlines the high, low, open, and close of the previous candle, adding a middle dividing line to offer valuable context for informed trading decisions. It is designed to improve visual clarity by highlighting key levels from the previous day's price movement directly on intraday charts.
The Previous Candle Close column helps traders determine whether the previous day's candle was bullish or bearish by comparing the close and open prices. The indicator automatically changes the outline colour based on whether the previous day's candle was bullish (green by default) or bearish (red by default). The middle line represents the midpoint between the open and close prices, providing a quick reference for potential support or resistance.
Traders can customise the Previous Candle Close column to match their chart's colour scheme. They can select distinct colours for bullish and bearish candle outlines and adjust the middle line colour and line width. Additionally, the indicator allows for a transparent candle body, ensuring the visibility of primary chart data.
The Previous Candle Close column also includes a candle close countdown, displaying the remaining time until the candle closes. This feature works on all timeframes, providing exact data for M15, H1, H4, and D candles. The remaining time table only functions in real-time, displaying a "-" sign when in replay mode.
While the Previous Candle Close column offers valuable information, it is important to remember that TradingView's indicators, including this one, are not intended to provide financial, investment, trading, or other types of advice. Traders should use this tool as a visual aid to inform their own trading strategies and decisions.
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Frequently asked questions
The daily candle close/open is locked at UTC+3.
It means that the daily candle opens at 17:00 instead of midnight in your local time.
The daily candle for equities closes at 3:59 pm EST.
No, you cannot change the daily candle close time on TradingView to be in sync with your local market time.
