Charts seem to reflect Bid instead of Last

[naxo79]

Hi,

I have NT7 connected to IB.
-1min chart NOKSEK
-Price based on "Last"
-Update interval 0,1

Still it seems that the chart always reflects BID, instead of Last.
This can clearly be seen in the attached chart:

http://img192.imageshack.us/img192/5783/screenshot2011090608524.png

If this happened only once, I wouldnt notice it. But it seems to be always.
Is there something not right?

[NinjaTrader_Bertrand]

naxo79, thanks for the post here - what Level 1 data values are you seeing for this instrument in your NT Control Center at the same time?

[naxo79]

Actually in the control center also Bid = Last.
Even the Volume matches.

http://img15.imageshack.us/img15/3893/screenshot2011090614324.png

[NinjaTrader_Bertrand]

Thanks naxo79, that would be expected for FX spot charts, since they are typically build on the bid data.

[naxo79]

So, when you run a backtest on "Last" data you actually run it on Bid data?

You should have a big warning about this in that case.

[NinjaTrader_Bertrand]

That's correct naxo79, in IB the Last shown is kind of virtual, it's normally the midpoint between bid / ask, which we would not support in NT.

[naxo79]

So the only way to truly backtest forex strategies with realistic fills is to do it on replay or add both bid and ask as different timeframes?

[NinjaTrader_Bertrand]

So the only way to truly backtest forex strategies with realistic fills is to do it on replay or add both bid and ask as different timeframes?

that's correct, our add a reasonable slippage amount for the spread.