diff --git a/freqtrade/optimize/__init__.py b/freqtrade/optimize/__init__.py
index f6f1ba47a..68ba5622e 100644
--- a/freqtrade/optimize/__init__.py
+++ b/freqtrade/optimize/__init__.py
@@ -103,7 +103,10 @@ def load_data(datadir: str,
         if pairdata:
             result[pair] = pairdata
         else:
-            logger.warn('No data for pair %s, use --update-pairs-cached to download the data', pair)
+            logger.warning(
+                'No data for pair %s, use --refresh-pairs-cached to download the data',
+                pair
+            )
 
     return result
 
diff --git a/freqtrade/tests/optimize/test_optimize.py b/freqtrade/tests/optimize/test_optimize.py
index 8624b500d..765d88cd5 100644
--- a/freqtrade/tests/optimize/test_optimize.py
+++ b/freqtrade/tests/optimize/test_optimize.py
@@ -105,7 +105,7 @@ def test_load_data_with_new_pair_1min(ticker_history, mocker, caplog) -> None:
                        refresh_pairs=False,
                        pairs=['MEME/BTC'])
     assert os.path.isfile(file) is False
-    assert log_has('No data for pair MEME/BTC, use --update-pairs-cached to download the data',
+    assert log_has('No data for pair MEME/BTC, use --refresh-pairs-cached to download the data',
                    caplog.record_tuples)
 
     # download a new pair if refresh_pairs is set