Time Zone, Trading Hours and Pivots
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- This topic has 8 replies, 5 voices, and was last updated 5 years ago by achel.
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06/19/2018 at 11:17 AM #73662
Hi guys. I’ve been trading part time for 3 years still balancing a full time job.
Mostly on MT4 but I love the look and feel of PRT and having been slowly working my way around.
One thing I’d like to setup is how I see my time and bar setup.
I”m in Melbourne Australia but my broker is NY time so I’d like to setup PRT so I see the bars exactly the same way and my pivots work on NY time.
I’ve been fiddling around int eh Platform area with no luck.
Any ideas?
Cheers
Dan
06/19/2018 at 2:28 PM #7367206/20/2018 at 10:07 AM #7373406/20/2018 at 11:07 AM #73742Bars will NEVER align among different brokers, some close bars at 22 utc+2, some at 23 utc+2 (classic NY close), some at 00 utc+2, some at 01 utc+2, there’s no rule in Forex.
When they build any candle (above 1h TF) they do it according to THAT time. You can only change your time zone settings to display them with a different time (which is just a tag), but you CANNOT change the time they build it.
It may happen that a 2-hour candle for a broker is completely different for another broker’s charts. Only the clients of a broker, no matter where they are in the world, will see the same candle at the same moment.
Usually this doesn’t affect trading, since you may have a big engulfing candle in one broker’s chart (which is usually said not to require confirmation to open a trade), while in another broker’s chart you may see two smaller candles, the second of which is usally a confirmation (in case the direction changed), after the first one, to enter a trade.
You may like or dislike this, but there’s no workaround!
If you want to operate according to NY opening/closing hours you’ll have to open an account with a broker using that time to build candles (then you’ll modify your setting to display those candles with a different tag, say utc-3, utc+9….. whatever you prefer).
06/21/2018 at 6:46 AM #73846Thank you for your quick reply Roberto and advice.
I’ll play around with the settings and see what I can do.
I enjoy pivot point trading so the weekly and monthly pivots are pretty much the same.
It’s the daily pivots that it impacts more but still workable.
Cheers
Dan
07/07/2018 at 12:29 PM #7552301/29/2019 at 9:41 AM #89911Hi Everybody
I wrote 2 strategies to trade on the FRANCE 40 Cash 1E (PIX)
and on the US 500 CAsh 1E (SPTRD)
both on Market = GBL_EUR
When I launch them I have this message “strategy.request.timezone.error”
I cannot find the process to adapt this time zone to this market. Help
Thanks
01/31/2019 at 10:03 AM #9012301/31/2019 at 10:12 AM #90125 -
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