Websocket OHLC vs Historical data

@sujith OHLC from Websocket is not the same as historical data, as we are all aware. How accurate is Websocket OHLC's technical indicator calculation? Because Zerodha uses historical data to create its charts and technical indicators, correct? If it's correct, then the Zerodha charts differ from the websocket OHLC and indicator values, am I correct?

How can we depend on the Websocket OHLC and its indicator values for trading purposes?
  • ANL
    @rakeshr please advice
  • sujith
    The OHLC values on Websocket API are day values, you will have to generate candles using last traded price at your end for live market strategies.
  • ANL
    ANL edited November 2023
    @sujith I agreed. OHLC derived from the last traded price differs from historical data. I would want to hear what you think about this. Can we trust OHLC derived from last_traded because both historical data and derived OHLC differ? suppose volumes are not equal. As a result, the indicator value differs from the values displayed on the chart if we compute the indicator using this derived OHLC. Please share your thoughts.
  • sujith
    You can check out this thread.
    There is nothing called right or wrong data. The idea is to capture the trend. If you need accurate tick by tick data you need to be at the exchange in a colocation server which costs 20+ lakhs per annum.
  • sujith
    There are hundreds of users using Websocket API and creating candles at their end. You need to write the code and keep doing trials and optimize code till you get the desired result.
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