Chloe Adams
The closing time of 4-hour candles varies depending on the trading platform and broker. For example, on Think or Swim, a charting platform, the 4hr candle closes at noon and 4 pm, while on TradingView, a platform for scanning and analysing stocks, the 4hr candle closes at 2 pm and 6 pm. On Webull, a trading platform, the first 4-hour candle closes at 1:30 PM Eastern Standard Time (EST) with the next candle closing at 4:00 PM EST. However, with extended hours enabled, the first 4-hour candle closes at 8:00 AM EST, followed by 9:30 AM EST, 1:30 PM EST, 4:00 PM EST, and 8:00 PM EST.
| Characteristics | Values |
|---|---|
| Closing times | Can vary depending on the broker |
| Time zones | GMT, EST, NY close |
| Examples of closing times | 1:30 PM EST, 4:00 PM EST, 8:00 AM EST, 9:30 AM EST, 1:30 PM EST, 4:00 PM EST, 8:00 PM EST, 5:00 PM EST |
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What You'll Learn
Closing times vary depending on the broker
The closing times of 4-hour candles can vary depending on the broker and the platform being used. For example, the 4hr Chart on TradingView has close times at 6 am, 10 am, 2 pm, and 6 pm, while Think or Swim (TOS) has close times at 8 am, noon, 4 pm, 8 pm, midnight, 4 am. This discrepancy is due to the way data is synced to the chart timeframe, with TOS taking into account pre-market and midday breaks.
Another factor that influences close times is the location and trading session. For instance, the New York session is from 8 am to 5 pm Eastern Time, and daily candles close at 5 pm Eastern Time. The Tokyo, London, and New York opens also influence the timing of daily candles for currencies like the Euro.
Additionally, different brokers may offer varying ways of viewing 4-hour candles, such as standard hours and extended hours. For example, Webull offers standard hours with the first 4-hour candle closing at 1:30 PM Eastern Standard Time (EST) and subsequent candles closing every four hours at 4:00 PM, 8:00 PM, and so on. With extended hours enabled, the first 4-hour candle closes at 8:00 AM EST, followed by the market open at 9:30 AM EST, and subsequent closes every four hours at 1:30 PM, 4:00 PM, and 8:00 PM.
It is important for traders to understand how their broker displays 4-hour candle closing times to ensure accurate technical analysis and informed trading decisions. A little awareness can prevent confusion and keep trading on track.
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There is no standard open or close time
The variation in close times can be attributed to the different ways brokers display 4-hour candles. For instance, Webull offers two viewing options: Standard Hours and Extended Hours. During Standard Hours, the first 4-hour candle closes at 1:30 PM Eastern Standard Time (EST), followed by subsequent candles closing at 4:00 PM EST. However, with Extended Hours enabled, the first 4-hour candle closes at 8:00 AM EST, followed by closes at 9:30 AM EST (market open), 1:30 PM EST, 4:00 PM EST (market close), and 8:00 PM EST.
The lack of standardization in open and close times can be challenging for traders, especially those using multiple platforms or relying on specific strategies. Some traders have expressed a desire for the ability to adjust open and close times to match their preferred trading times or to align with other major charting systems.
To navigate this, traders should be aware of the different open and close times offered by their brokers and choose the one that suits their trading strategy and location. Additionally, understanding the distinction between standard market hours, extended hours, and true 4-hour candles is crucial for accurate technical analysis and informed decision-making.
While there is no universal open or close time, traders can adapt their strategies by confirming the settings and understanding the nuances of their chosen platform and broker.
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The New York session is from 8 am to 5 pm Eastern Time
The New York session is important because it sees more trading activity from institutional investors. It also overlaps with the London session, which runs from 8 am to 5 pm GMT, resulting in high liquidity and volatility, especially for USD pairs. This overlap occurs between 8 am and 12 noon ET, which is considered a prime time for trading due to the release of substantial data in the US during these hours.
The New York session is also significant for candle close times. While there is no standard 4-hour candle open or close time, some traders suggest that the New York close at 5 pm EST is the best time for the daily close/open. This would mean that the 4-hour candles would correspond with this timing, opening and closing at 5 am, 9 am, 1 pm, 5 pm, 9 pm, and 1 am EST.
However, other trading platforms, such as TradingView, have different close times for 4-hour candles, which can vary by two hours. For example, on TradingView, a 4-hour candle may open at 2 pm and close at 6 pm, while on Think or Swim, the same candle would open at noon and close at 4 pm. This discrepancy can be confusing for traders, especially when considering the early close of the market at 4 pm.
To summarise, the New York session from 8 am to 5 pm Eastern Time is a critical period in forex trading due to the high liquidity, volatility, and overlap with the London session. It also influences the timing of candle close times, although there is no universal standard, leading to variations across different trading platforms.
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The 4-hour candle close strategy
One of the main advantages of this strategy is that it captures medium-term price movements while minimising the impact of short-term market noise. It provides clear entry and exit signals, making it a straightforward and effective approach for traders in the forex market. The 4-hour timeframe is particularly useful for forex traders as it offers a balance between shorter-term and longer-term trends, allowing them to trade around the clock.
To implement this strategy, traders can follow these steps:
Step 1: Identify the direction of the 200-period Exponential Moving Average (EMA). For a buy order, it should indicate a bullish trend and be below the price. For a sell order, it should indicate a bearish trend, with the 200-period EMA forming above the price.
Step 2: Locate a bullish pin bar or bullish engulfing candlestick rejecting the dynamic support zone (23 & 38 EMAs) for a buy order. Conversely, look for a bearish pin bar or engulfing candlestick rejecting the dynamic resistance zone (23 & 38 EMAs) for a sell order.
Step 3: Open the respective buy or sell order after candlestick confirmation. Place a stop loss a few pips below the low of the candlestick for a buy order and a few pips above the high of the candlestick for a sell order.
It is important to note that there is no standard open or close time for the 4-hour candle. The New York session, for example, runs from 8 AM to 5 PM Eastern Time, and daily candles close at 5 PM Eastern Time. However, the specific open and close times for 4-hour candles can vary across different charting platforms. Traders should be mindful of this variation and choose a platform that suits their location and preferences.
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Different platforms have different close times
A trading platform is a software system that allows investors to open, close, and manage market positions online. These platforms are usually mobile-friendly and provide users with a range of tools to help them make informed trading decisions.
Different trading platforms have different close times for 4-hour candles. For example, the 4-hour candle on TradingView opens at 2 pm and closes at 6 pm, while Think or Swim's 4-hour candle opens and closes two hours earlier, at noon and 4 pm respectively. This is a significant difference, especially when considering that the market actually closes at 4 pm.
The variation in close times between platforms is due to the syncing of data to the chart time frame. The "open" on some platforms is defined as the open of the bar that contains the "market open," which can vary depending on the exchange time. For example, ES1! futures open at 8:30 CT time, while the market open for stocks is at 9:30 ET.
The best close time for 4-hour candles is still a matter of debate among traders. Some traders suggest that the New York close at 5 pm EST is the best option for the daily close/open, which would mean that the 4-hour candles would correspond to this timing as well. However, others suggest that the London Open at midnight GMT is a better option for the daily candle open, which would result in different close times for 4-hour candles.
Ultimately, the choice of trading platform and the associated close times will depend on the trader's location, trading strategy, and personal preference. It is important for traders to consider the features and fees offered by different platforms to determine which one suits their specific needs.
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Frequently asked questions
The closing time of 4-hour candles varies depending on the trading platform and the broker. For example, on Think or Swim, the 4-hour candle closes at noon and 4 pm, while on TradingView, it closes at 2 pm and 6 pm.
Before diving into your charts, confirm the settings. Check if you are using standard market hours, extended hours, or true 4-hour candles. This distinction will ensure you're interpreting the information correctly.
Popular platforms like Webull and TradingView offer different ways of displaying 4-hour candle closing times. With standard hours on Webull, the first 4-hour candle closes at 1:30 PM EST, and with extended hours, the first closure jumps to 8:00 AM EST. TradingView offers more flexibility, and you can choose between standard hours, where the first candle closes at 1:30 PM EST, or another display option that suits your needs.
The world of technical analysis relies on consistency and accurate tools. 4-hour candles are a popular tool, and understanding their closing times is crucial for making informed trading decisions. Different brokers and platforms have different ways of displaying these candles, so it is important to be aware of the specific times relevant to your broker to ensure accurate analysis.
