OnBarUpdate v's OnMarketData

[murfinp]

Hi

Can anybody explain the difference between OnBarUpdate and OnMarketData ... I understand that OnMarketData is called on every change of market data (last, bid, ask etc) but what determines the frequency of the call to OnBarUpdate

Thanks

Paul

[ctrlbrk]

It's determined by the frequency of your chart or strategy, ie 233 tick, 5 minute, etc. Unless calculateonbarclose = false, in which it would be every tick (only in real time, not in strategy backtesting).

Mike

[murfinp]

It's determined by the frequency of your chart or strategy, ie 233 tick, 5 minute, etc. Unless calculateonbarclose = false, in which it would be every tick (only in real time, not in strategy backtesting).

Mike

Mike

Thanks ... so basically there is no difference (if looking at close[0]) if calculateonbarclose = false

Paul

[ctrlbrk]

Mike

Thanks ... so basically there is no difference (if looking at close[0]) if calculateonbarclose = false

Paul

Hmm, not sure, there might be some situations where it is different, I will let the experts answer.

There is also OnMarketDepth.

Mike

[NinjaTrader_JoshP]

Difference is you receive bid and ask events, not just only last events.

[junkone]

how about IB forex. there is only bid and ask and no last. would the OnBarUpdate and OnMarketData be the same.

[NinjaTrader_JoshP]

junkone,

It is very simple. OnBarUpdate() only updates once for each price move. OnMarketData() may come with 3 updates representing bid, ask, and last. You filter it to choose which one you want to look at.

For most case scenarios just stick with OnBarUpdate(). Only very specific needs warrant the use of OnMarketData().