Close different from Bid

[kiss987]

While trading forex I print the Close[0], ask and bid values (by the GetCurrentBid and GetCurrentAsk methods). To my surprise, the Close[0] value was different from both the ask and the bid values. I thought the Close[0] should be equal to the current bid value. Can you please explain me the difference between the Close[0] and bid.

Thanks

[NinjaTrader_CodyB]

Hello,
Can you clarify if you are calling Close[0] in OnBarUpdate with CaculateOnBarClose set to false or true?

[kiss987]

CalculateOnBarClose = false

[NinjaTrader_CodyB]

Hello,
What data provider are you using for forex?
I look forward to your reply.

[kiss987]

I use demo account of FXCM

[NinjaTrader_CodyB]

Hello,
I have not seen this occur yet using FXCM and testing on a $EURUSD 1 minute chart.
So that we may investigate this further can you provide a snippet of your code that you are using to determine that the Close is different the the Bid price. Also please provide what instrument you are using to reproduce this.

[kiss987]

I have attached a simple strategy which was run for a short while on 10 range bid chart on EURNZD and its output file. In the output file you can see that the close is different from the bid.

Thanks

[NinjaTrader_PatrickH]

Hello kiss987,

Thank you for your response.

It is possible for the close price to update outside the Bid or Ask or in between both the Bid and Ask. Close is the last traded price, where as Bid and Ask are the price of the last traded Bid or Ask Level. Trades can still occur outside the Bid or Ask.

[kiss987]

Thank you for your reply.

I'm not sure I completely understood you... Can you please elaborate on that? Perhaps an eample with numbers will help

[NinjaTrader_PatrickH]

Hello kiss987,

Thank you for your response.

A simple way to think of it is there only a certain number that can be bought at the current Ask or sold to the current Bid. If you needed to buy or sell more you would need to do so at a different price level if your trade occurred at that different price from the current Bid or Ask it would be the Last price level.