Regarding GMT and Opening times:
Just thought I'd seek clarification for all members on this in case there is an anomally in the understanding.
What is the developer's / trader's angle on this?
When we treat the London opening time as 0800, are we saying it is 8am local London time for the whole year; summer and winter?
As I currently understand from the programming, we seem to be suggesting that the London market opens at 9am in summer (GMT+1) and 8am in winter (GMT+0), which of course in reality could not be correct.
I have used CMC and currently use FXCM. Many brokers display London time on their platform (rather than GMT all year) ... which is in fact GMT+1 in summer and GMT+0 in winter (ie. they make the adjustment). So to set your broker settings as GMT+1 right now (UK summer) would require you to change your THV broker setting to GMT+0 when daylight savings is not active, and then change it back again to GMT+1 when UK daylight savings reactivates.
Is this correct? Otherwise for the purposes of the market hours indicator and pivot points calculations, we'd be seeing differing market opening hours in terms of local London 'turn up at the office' time - which of course would lead to an anomally in trading.
This aspect can be damn confusing and for those of use who trade critically around the London open for example, being innocently an hour out of synch. for 6 months of the year would be a bad thing .
Just thought I'd seek clarification for all members on this in case there is an anomally in the understanding.
What is the developer's / trader's angle on this?
When we treat the London opening time as 0800, are we saying it is 8am local London time for the whole year; summer and winter?
As I currently understand from the programming, we seem to be suggesting that the London market opens at 9am in summer (GMT+1) and 8am in winter (GMT+0), which of course in reality could not be correct.
I have used CMC and currently use FXCM. Many brokers display London time on their platform (rather than GMT all year) ... which is in fact GMT+1 in summer and GMT+0 in winter (ie. they make the adjustment). So to set your broker settings as GMT+1 right now (UK summer) would require you to change your THV broker setting to GMT+0 when daylight savings is not active, and then change it back again to GMT+1 when UK daylight savings reactivates.
Is this correct? Otherwise for the purposes of the market hours indicator and pivot points calculations, we'd be seeing differing market opening hours in terms of local London 'turn up at the office' time - which of course would lead to an anomally in trading.
This aspect can be damn confusing and for those of use who trade critically around the London open for example, being innocently an hour out of synch. for 6 months of the year would be a bad thing .