Difference between real time EOD chart and intraday chart

[silentarrow]

I was reading the 3 15 technical analysis thread by tradewithhunter and was really impressed by it.

But, I am just a little confused with about the time frame of the charts. I asked a few questions there, which i thought might clear up the confusion but it didnt.

Here's the question: What is the difference between real time EOD chart and intraday chart?
I mean both of them are being shown tick by tick, right? ( I am not sure about it,that's why I am asking)

The recommendation in that thread is that I trade whenever the crossover happens ( a very broad generalization, I know!), but wouldn't i be trading this at whatever price it is at the moment. So, I am not sure if that would make a difference if we are watching the EOD chart or intraday chart.

I didnt post this question in that thread because I didnt want to piss off tradewithhunter with my dumb newbie question and take that thread off the track.

Could anyone really clear this up for me, please!

silentarrow

 

[silentarrow]

Well, it seems like I was unable to explain my question clearly.

Anyways, I have been thinking about it and I think I have got the answer.

Let me explain it and then you guys can tell me if I am right or wrong.

Now, for the EOD CHART, at the end of the day, there is just going to be one more bar added to the chart, which would be a graphical representation of the days opening price, the high of the day, the low of the day and the closing price.

So, suppose the trading of the day begins, we now have only one aspect of the EOD bar, i.e. we know the opening price now.
the closing price will come when the market closes.

Now, we know that during the day the prices keep fluctuating from high to low and everything in between, but it will the highest price and the lowest price during the day , that will be added to the EOD bar.

Let me demonstrate using an example.
Say, there were only 10 prices during the day( I know there are actually many more, but I just want to give a simple example).

So, the 10 different prices are,
100, 80, 90, 105, 75, 120, 77, 89, 110, 115

So, here the opening price was 100 .
the highest of the day was 120
the lowest of the day was 75
and the closing price was 115

these 4 prices will now be used to create the EOD bar .

I think that's how it happens.
Please correct me if I am wrong.

 

[nac]

^

I guess you got it...

EOD chart - End Of Day chart
Intraday chart - TF can be a tick or 1 min or 2 min or 3 min ..............

In EOD chart (candlestick) you will see only one candle represents one trading day... While intraday chart, you can see more than one or just one (depends on TF we choose) candle in one trading day.