diff --git a/freqtrade/data/history.py b/freqtrade/data/history.py
index 412b086c0..b1e4313ca 100644
--- a/freqtrade/data/history.py
+++ b/freqtrade/data/history.py
@@ -148,7 +148,6 @@ def load_pair_history(pair: str,
 
     timerange_startup = deepcopy(timerange)
     if startup_candles > 0 and timerange_startup:
-        logger.info('Using indicator startup period: %s ...', startup_candles)
         timerange_startup.subtract_start(timeframe_to_seconds(ticker_interval) * startup_candles)
 
     # The user forced the refresh of pairs
@@ -204,6 +203,8 @@ def load_data(datadir: Path,
         exchange and refresh_pairs are then not needed here nor in load_pair_history.
     """
     result: Dict[str, DataFrame] = {}
+    if startup_candles > 0 and timerange:
+        logger.info(f'Using indicator startup period: {startup_candles} ...')
 
     for pair in pairs:
         hist = load_pair_history(pair=pair, ticker_interval=ticker_interval,
diff --git a/tests/data/test_history.py b/tests/data/test_history.py
index d9627a0e4..89120b4f5 100644
--- a/tests/data/test_history.py
+++ b/tests/data/test_history.py
@@ -103,9 +103,7 @@ def test_load_data_startup_candles(mocker, caplog, default_conf, testdatadir) ->
                               datadir=testdatadir, timerange=timerange,
                               startup_candles=20,
                               )
-    assert log_has(
-        'Using indicator startup period: 20 ...', caplog
-    )
+
     assert ltfmock.call_count == 1
     assert ltfmock.call_args_list[0][1]['timerange'] != timerange
     # startts is 20 minutes earlier
@@ -354,8 +352,12 @@ def test_load_partial_missing(testdatadir, caplog) -> None:
     start = arrow.get('2018-01-01T00:00:00')
     end = arrow.get('2018-01-11T00:00:00')
     tickerdata = history.load_data(testdatadir, '5m', ['UNITTEST/BTC'],
+                                   startup_candles=20,
                                    timerange=TimeRange('date', 'date',
                                                        start.timestamp, end.timestamp))
+    assert log_has(
+        'Using indicator startup period: 20 ...', caplog
+    )
     # timedifference in 5 minutes
     td = ((end - start).total_seconds() // 60 // 5) + 1
     assert td != len(tickerdata['UNITTEST/BTC'])