Help understanding when markets open on my time... | Forex Factory

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Help understanding when markets open on my time...

  • #1
  • First Post: Dec 18, 2016 12:30pm Dec 18, 2016 12:30pm
Hello all. I live in Texas. I have forex.com as my broker. I'm 6 hours behind Gmt I believe. 
 
Does that make me +6 or -6?
 
How do I know what time each market opens in my time on my mt4 platform withforex.com a my broker? Do I need to make any changes in my mt4 platform concerning time to make my charts the most accurate? 
 
Any help is appreciated.
If it were not so, I would have told you...
  • #2
  • Dec 18, 2016 1:25pm Dec 18, 2016 1:25pm
It's very easy. Identify which time your broker starts a new day. There are only 2 kinds. 1. with the day GMT time or 2. with the close of NY session

With the first kind you have 2 hours market time on sunday. With the second kind you have full days Monday till Friday
  • #3
  • Dec 18, 2016 1:30pm Dec 18, 2016 1:30pm
You would be -6.

I believe for you market hours would be Sunday 4PM to Friday 4PM.

Your broker should of assigned you to a server that is for your timezone? For instance I am on Oanda GMT -5. I am on east coast of the US.

i hope this helps.
  • #4
  • Dec 18, 2016 1:45pm Dec 18, 2016 1:45pm
forex.com starts and ends at 5pm EST
  • #5
  • Dec 18, 2016 2:15pm Dec 18, 2016 2:15pm
Ok. So if forex.com starts and ends at 5, est, which is one hour ahead of me, ÂÂthen at 4 pm my time Sunday, forex.com comes alive. I know this to be true. So is there any significance associated with my -6 gmt time? Does it have any consequences that I need to be aware of? I hear a lot about setting mt4 at -6 or whatever the case may be.
If it were not so, I would have told you...
  • #6
  • Dec 18, 2016 2:32pm Dec 18, 2016 2:32pm
Quoting virgilcain
Ok. So if forex.com starts and ends at 5, est, which is one hour ahead of me, then at 4 pm my time Sunday, forex.com comes alive. I know this to be true. So is there any significance associated with my -6 gmt time? Does it have any consequences that I need to be aware of? I hear a lot about setting mt4 at -6 or whatever the case may be.
no, unless you have some indicator that requires time adjustment then you offset it from 0.00 as needed.
  • #7
  • Dec 18, 2016 2:53pm Dec 18, 2016 2:53pm
Attach Indicator :
Attached File(s)
File Type: mq4 GMT-offset.mq4   3 KB | 372 downloads


or Script:
Attached File(s)
File Type: ex4 Local Time.ex4   19 KB | 319 downloads


Observe when markets are open
It never gets easier, you just get better
  • #8
  • Dec 18, 2016 2:54pm Dec 18, 2016 2:54pm
Quoting virgilcain
Ok. So if forex.com starts and ends at 5, est, which is one hour ahead of me, then at 4 pm my time Sunday, forex.com comes alive. I know this to be true. So is there any significance associated with my -6 gmt time? Does it have any consequences that I need to be aware of? I hear a lot about setting mt4 at -6 or whatever the case may be.
With that offset you have to be careful with H4 and D1 stuff from others when their broker starts 2 hours later. Most of the shared ideas on those TFs are not taking that into account either most of the developers here don't program their stuff in a manner that they working on that shifted times correctly
  • #9
  • Dec 18, 2016 3:15pm Dec 18, 2016 3:15pm
GMT only matters for certain indicators that are programmed using GMT.
Find out where important times(NY open, Daily close/open, London open, etc.....) are on your chart and note the time of your broker.

***Place vertical line on your EU chart to match chart below to find NY open, etc......
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 49 KB
  • #10
  • Dec 18, 2016 8:25pm Dec 18, 2016 8:25pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 103 KB


If this is correct then the vertical red line is 13:00 hrs on my chart. This corresponds to NY open? When is the NY open?
If it were not so, I would have told you...
  • #11
  • Edited 6:53am Dec 19, 2016 6:25am | Edited 6:53am
Quoting virgilcain
{image} If this is correct then the vertical red line is 13:00 hrs on my chart. This corresponds to NY open? When is the NY open?
Yes, NY open is 13:00 @ your broker.
NY open is 8 AM eastern time.

***If you day-trade the NY session, place the indi on chart 2 times with settings of 13 & 22. Notice how price reacts to the levels.
Attached File(s)
File Type: ex4 daily_open_line.ex4   8 KB | 345 downloads
File Type: mq4 daily_open_line.mq4   2 KB | 348 downloads
  • #12
  • Last Post: Dec 19, 2016 9:20am Dec 19, 2016 9:20am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 85 KB


So this is with 13 and 22. Is it looking right? What does this signify?
If it were not so, I would have told you...
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