Do any brokers allow you to adjust the time their daily candles are formed? | Forex Factory

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Do any brokers allow you to adjust the time their daily candles are formed?

  • #1
  • First Post: Jan 12, 2011 4:50pm Jan 12, 2011 4:50pm
I trade the daily candles through IBFX. Unfortunately all their candles form at 00:00 GMT. This is a terrible time. I'd rather the candles form at a time which coincides with major markets.

Do any brokers allow you to adjust the time the daily candles are formed in MT4?

I know this has been discussed before, but I can't find it right now.

Gracias.
  • #2
  • Jan 12, 2011 4:54pm Jan 12, 2011 4:54pm
I dont think so because I'm pretty sure the bars are fed live based on your brokers timezone.

I could be wrong about this though.
  • #3
  • Jan 12, 2011 5:35pm Jan 12, 2011 5:35pm
Sucks.

I'm assuming MT5 doesn't include this functionality either as sort of a way for us to it ourselves on our computer? For example, have our computers receive all the tick data/store it, and then have our MT5 build it for us.
  • #4
  • Jan 12, 2011 5:37pm Jan 12, 2011 5:37pm
You can't change the candle time locally as the data is generated and held server side.
  • #5
  • Jan 13, 2011 1:44am Jan 13, 2011 1:44am
You'd want the candle close to occur at the true market close of 1700 ET (+4 or 5 GMT depending on daylight savings). Since MT4 time is set server-side, most brokers (that know what they're doing) have 1700 ET as the close regardless of where they're located. It's those other brokers that use their own local time zone as the server time that end up distorting charts.
  • #6
  • Jan 13, 2011 7:12am Jan 13, 2011 7:12am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting permanentjaun
I trade the daily candles through IBFX. Unfortunately all their candles form at 00:00 GMT. This is a terrible time. I'd rather the candles form at a time which coincides with major markets.

Do any brokers allow you to adjust the time the daily candles are formed in MT4?

I know this has been discussed before, but I can't find it right now.

Gracias.
No, because then you would have different candles from everyone else.

Thus nulling the self fulfilling technicals of the Candlesticks.

Why would you want to make trading not work for you
  • #7
  • Jan 13, 2011 8:11am Jan 13, 2011 8:11am
Just get yourself a MT4 broker demo that has their server time turn midnight when it's 5pm in NY. I use FxPro. Note the realtime screenshot, and comparison against the various key time zones. It should only be useful to you for H4 and daily charts.
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  • #8
  • Jan 13, 2011 8:47am Jan 13, 2011 8:47am
Quoting apt
No, because then you would have different candles from everyone else.

Thus nulling the self fulfilling technicals of the Candlesticks.

Why would you want to make trading not work for you
How DARE you cuss PA!
  • #9
  • Last Post: Jan 13, 2011 8:49am Jan 13, 2011 8:49am
Quoting Beljevina
Just get yourself a MT4 broker demo that has their server time turn midnight when it's 5pm in NY. I use FxPro. Note the realtime screenshot, and comparison against the various key time zones. It should only be useful to you for H4 and daily charts.
I don't think it's possible to change the time for candlesticks.
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