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Alert Interval Periods
Triggers are used to create alerts. Each alert trigger is based on an interval period. Alerts are either checked at the close of each interval or on each tick during the interval. When creating timetotrade alerts it is therefore essential to consider the interval period you select.
Understanding Interval Periods
The standard chart and alert intervals are for example 1 minute, 5 minutes, 15 minutes, 1 day 'candles'. All standard intervals are divisible by the next larger unit of time. The units of time are:
For example there are 12 x 5 second candles in a minute; there are 4 x 15 minute candles in an hour; there are 12 x 2 hour candles in a day. All of the standard candles can be divided without a remainder into the next larger unit of time.
Custom interval periods can be used, such as 11 minutes. However it should be noted that if the interval period does not divide into the next larger unit of time, the last candle within the next larger unit of time will be shorter than the other candles. Using the 11 minute example, candles will be formed using price data collected between:
- 09:00 -> 09:11
- 09:11 -> 09:22
- 09:22 -> 09:33
- 09.33 -> 09:44
- 09:44 -> 09:55
- 09:55 -> 10:00
Note that the last candle does not contain a full 11 minutes of price data
Setting the Alert Trigger Interval
When creating alert triggers the interval can be set by updating the 'Using the interval' fields as illustrated:
In this example the interval was set to check if the 1 day candle close price falls below 1.36 at the close of the interval i.e. at the end of the trading day as the interval period is set to 1 day.
Consider the following chart with the 1.36 support level highlighted:
If this alert had of been active during the period illustrated on the chart it would not have triggered, because although the low price during January was less than 1.36, the candle close price was above the 1.36 level.
In order to get an alert if the low price was below 1.36 then there are two choices. The first choice is to change the alert to test if the low price was below 1.36 as illustrated:
If the alert trigger was changed to use the low price, then the alert would have triggered twice in January at the end of the trading day i.e. at the close of the interval the alert would be checked to see if the low price was less than 1.36.
However if you wanted to set up an alert that would notify you if the low price on the 1 day candle falls below 1.36, and you wish to receive that alert when this happens during the trading day, this can be achieved by changing the alert trigger to check 'on each tick during the interval' as illustrated:
Within a given interval, on each tick, the alert trigger is evaluated if set to check on each tick during the interval.
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