Quoting from an old blog
http://lalitlk-lalit-lk.blogspot.in/2014/12/nifty-index-time-frame-75-minutes.html
" Market in India is from 9:15 AM to 15:30 hours (3:30 PM) and of 375 Minutes duration. As such, a TF of 3 minutes cover a day with 125 candles, TF of 5 minutes covers 2 days, TF of 15 minutes cover 6 days & TF of 75 minutes cover in 30 days - all with 150 candles.
Traditionally, Daily chart of around 30 weeks is of /around 150 candles. Fractal of daily chart is taken/accepted of being hourly, However, in my opinion , the hourly chart is asymmetrical in nature ; 1st candle depicted as 9:00 is based on 3 candles of TF 15, & 7th candle depicted as 15:00 is based on 3 candles of TF 15. Balance 5 candles (10:00 to 14:00 inclusive) are based on 4 candles of TF 15. Best option for fractal is no doubt a TF of 75 minutes".
http://lalitlk-lalit-lk.blogspot.in/2014/12/nifty-index-time-frame-75-minutes.html
" Market in India is from 9:15 AM to 15:30 hours (3:30 PM) and of 375 Minutes duration. As such, a TF of 3 minutes cover a day with 125 candles, TF of 5 minutes covers 2 days, TF of 15 minutes cover 6 days & TF of 75 minutes cover in 30 days - all with 150 candles.
Traditionally, Daily chart of around 30 weeks is of /around 150 candles. Fractal of daily chart is taken/accepted of being hourly, However, in my opinion , the hourly chart is asymmetrical in nature ; 1st candle depicted as 9:00 is based on 3 candles of TF 15, & 7th candle depicted as 15:00 is based on 3 candles of TF 15. Balance 5 candles (10:00 to 14:00 inclusive) are based on 4 candles of TF 15. Best option for fractal is no doubt a TF of 75 minutes".
Data from Netdania were sourced by right clicking "Chart Type" icon & selecting "Table" option ; relevant data were copy & pasted to excel sheet. Based on 15 minutes data (with 27 rows for each day) , one obtained 5 sets of OHLC
Here is a chart for the period of 04/12/2015 to 15/01/2016 based on such derived data :
There were some missing Data from Netdania ; "
There is a vacuum in Data from NetDania on 31/12/2015 & 01/01/2016 (marked in red colours in candle - presume holiday in Nederland)" I had used instead OHLC from NSE for these two days. Macd values are not accurate accordingly, however, with passing of time their effect will be off in next 14 days fully.
