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As per the answer you've received, it's imo pretty simple:
Ninjatrader emulates artificial open & close, based on the selected range. the body, even the candle is merely a mathematical result of distance from price extreme A to price extreme B.
Trade Navigator is not calculating the bars but rather trying to print the real quotes. In illiquid or volatile markets, that leads to larger gaps between bars or, if trades occur within the same second, bigger bars.
An example:
We start with the candle open at 100. We want a rangebar of 9
The next printed price is 105. Thereafter, without printing any other price, the quote is 85.
Next, within the same second, we print 77 and 65.
with ninjatrader, you'd have the following bars (Open, High, Low, Close)
Bar 1: 100, 105, 96, 96
Bar 2: 95, 95, 86, 86
Bar 3: 85, 85, 76, 76
Bar 4: 75, 75, 66, 66
Bar 5: 65,65,65, ----
with trade navigator, you should see sth like:
Bar 1: 100, 105, 100, 105
Bar 2: 85, 85, 65, 65
as the jump from high 85 to 77 does not exceed 9 ticks for creating a new bar, the same-second quote of 65 is still part of the second bar, also marking it's close when the second passes without any further trades.
So I think it's not a "bug" but just a different way to realize the concept of range based aggregation.
Hope it's clear where the difference in the charting approach is.
From my perspective I don't really care so much to know the trade activity in the center of range bars or if the market hit multiple prices in the same second so long as it accurately prints the highs and lows price traveled. I like how the smoothing looks in NT.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
- trade liquid, non-volatile markets
- don't use trade navigator
Personally, I think it can add value as it leaves an impression of outburst in momentum, usually indicating a strong directional bias. Smoothed bars look nicer though
I would not say that charts don't matter.
But I would agree as to that it's irrelevant if everyone uses the same chart, has the same candlestick values, sees the same gaps etc. etc.
A chart is a support for aggregating price data to help you make your decision. Not for comparing your chart to others. If the chart helps you making good decisions - Positive. If no one else in the world understands it or has it the same - So what?!
