MT4 1 Hr Chart - How are bars drawn ?

[jjimmy]

Hi, 

 I have a newbie question on charting in MT4 ..

If I take 1 Hr chart, how are open and close prices for each  bar determined ?

Is the bar drawn to the clock  .i.e price@07:00:00 is open pos, price@08:00:00 as close for 7am-8am bar or is there some other logic used  ? 

 Thanks in Advance .. 

[Simon Gniadkowski]

JimRobo:

Hi, 

 I have a newbie question on charting in MT4 ..

If I take 1 Hr chart, how are open and close prices for each  bar determined ?

Is the bar drawn to the clock  .i.e price@07:00:00 is open pos, price@08:00:00 as close for 7am-8am bar or is there some other logic used  ? 

Almost,  the Open is the Bid price for the first tick within the 7am hour,  the Close price is the Bid price for the last tick that occurred during the 7am hour.