Best Practice for ZenFire and Daily Charts

[TAJTrades]

I have the ZenFire / Amp combination. On NT65 I was using the 1440 Min trick to create daily bars. With NT7 is it best to use the "Daily" instead of the 1440 Min trick? Or does it matter? Is one more accurate than the other?

Thanks.

[NinjaTrader_Kyle]

Hi TAJTrades,

Thank you for your post.

I would suggest using daily bars, simply for sake of convenience. With that said, neither the 1440 minute bar of the daily bar would be more or less accurate than the other.

[jamesaq]

TAJTrades,

Good question. (At this time) the daily bars that NinjaTrader so kindly provides for v7 are based on regular trading hours.

The 1440 minute bars will be based on the full session assuming you are using the electronic trading hours templates.

If you are looking to match open, high, low close to IBD, or other charting programs which may use the full session this difference should be considered.

The daily bar data also doesn't go as many days back as the minute data does which might force you into 1440 minutes to make a slightly longer chart if nothing else.

[NinjaTrader_JoshP]

Please also note if you want to use 1440 minute bars to also use a session template that contains 24 hours, otherwise you would still be "filtered" in that regard.