Hello,
I've read a great article about the most common verifications needed to perform in an advisor (https://www.mql5.com/en/articles/22).
The following sentence is a complete misery to me, though:
"To receive the information about trading sessions, you should use the SymbolInfoSessionTrade() function, for quotation sessions use the corresponding SymbolInfoSessionQuote() function."
What does quotation session exactly mean? And what's the difference between "trading session" and "quotation session"?
Thank in advance,
Benji
Hello Benjamin,
some symbols have special opening and closing sessions, where pre-market (or post-market) auctions take place. These auctions will in fact determine the opening and closing prices, respectively.
During these "auction intervals" trading is not allowed, however you can put orders normally. In the case of market orders they will not occur immediately, but only after the auction ends. Moreover, during these auction sessions, some quotes are received, for instance, the auction resulting price (which is, in fact, a quote).
Take as an example the BM&F Bovespa stock exchange: although the normal trading session (for stocks) starts at 10:00 AM, the exchange starts to receive orders (and publish the resulting auction quote) fifteen minutes before the normal trading session. A similar situation occurs at the end of the trading session, which takes place at 16:55 PM. In this case, the exchange reserves five minutes for the closing auctions to take place and it could last another five to fifteen minutes (depending on the market participants activity).
I hope this helps you to understand the difference between a "trading session" and a "quote session".
See you,
Malacarne
Hello Benjamin,
some symbols have special opening and closing sessions, where pre-market (or post-market) auctions take place. These auctions will in fact determine the opening and closing prices, respectively.
During these "auction intervals" trading is not allowed, however you can put orders normally. In the case of market orders they will not occur immediately, but only after the auction ends. Moreover, during these auction sessions, some quotes are received, for instance, the auction resulting price (which is, in fact, a quote).
Take as an example the BM&F Bovespa stock exchange: although the normal trading session (for stocks) starts at 10:00 AM, the exchange starts to receive orders (and publish the resulting auction quote) fifteen minutes before the normal trading session. A similar situation occurs at the end of the trading session, which takes place at 16:55 PM. In this case, the exchange reserves five minutes for the closing auctions to take place and it could last another five to fifteen minutes (depending on the market participants activity).
I hope this helps you to understand the difference between a "trading session" and a "quote session".
See you,
Malacarne
Thank you!
Is my conclusion then right about that for an advisor, only SymbolInfoSessionTrade() is relevant (if I want to participate only in "Live" trading)?
And how this applies to Forex?
Thanks again.
Thank you!
Is my conclusion then right about that for an advisor, only SymbolInfoSessionTrade() is relevant (if I want to participate only in "Live" trading)?
And how this applies to Forex?
Thanks again.
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Hello,
I've read a great article about the most common verifications needed to perform in an advisor (https://www.mql5.com/en/articles/22).
The following sentence is a complete misery to me, though:
"To receive the information about trading sessions, you should use the SymbolInfoSessionTrade() function, for quotation sessions use the corresponding SymbolInfoSessionQuote() function."
What does quotation session exactly mean? And what's the difference between "trading session" and "quotation session"?
Thank in advance,
Benji