Is there an mt4 indicator out there that is used to markLondon (open/close) NYC (open/close), /Tokyo etc. or set optional marks to track down / isolate "hot" time zones or "hot" time candles (if they exist...lol)
It basically allows you to set time mark(s) that would appear as a vertical (colored) line(s) showing that same time mark (GMT+ 'n') on ALL TIMEFRAMES ...AND appears back on every day (historical) to allow chart studies. I guess alerts could be nice too.
Try this one
Could be possible to modify the indicator attached on post 6 (Markethour) to shows the price of the open value for every session in the chart window.
Forex Market Hours
I have a question regarding Forex market hours which I hope someone can answer.
From sources I have read online the forex market seems to open at 10am local time Monday morning in Wellington New Zealand and closes at 5pm local time Friday afternoon in New York.
I live in Florida which is EST (GMT-5). Today is Saturday March 03 2007 and the forex market will reopen 10am local time Monday March 5th 2007 in Wellington New Zealand.
Since Wellington is currently (GMT+13) and Florida is (GMT-5) Wellington is effectively 18 hours ahead of me. So, when it is 10am local time Monday morning in Wellington for me in Florida the time will be 4pm Sunday afternoon. The forex market will reopen at 4pm EST Sunday 4th March 2007.
Now, daylight saving time begins in the US on Sunday March 11th 2007. When this happens my timezone in Florida will become (GMT-4).
When the market opens in Wellington on Monday 12th 2007 Wellington will still be (GMT+13) but Florida will be (GMT-4) Wellington will now be 17 hours ahead of me instead of 18. So, when it is 10am local time Monday morning in Wellington for me in Florida the time will be 5pm Sunday afternoon.
I don't know if this is correct though.
Will the forex market open at 5pm EST on Sunday 11th March 2007.
Further, the following week on Sunday March 18th Wellington will switch from DST to Standard Time and their clocks will go back one hour. Wellington will become (GMT+12) instead of (GMT+13), When the market opens in Wellington on Monday 19th 2007 Wellington will be (GMT+12) and Florida will be (GMT-4) Wellington will now be 16 hours ahead of me. So, when it is 10am local time Monday 18th 2007 in Wellington for me in Florida the time will be 6pm Sunday afternoon.
Will the forex market open at 6pm EST on Sunday 18th March 2007?
Thanks in advance.
This link http://www.forexmarkethours.com/ may help you figure this all out and more. You can also download from there the Forex Market Hours Monitor.
Hi fxcruiser, thanks for the reply.
The website http://www.forexmarkethours.com does not appear to make any mention for how changes to DST in New York or Wellington affect the open and close times of the Forex market.
If you look at http://www.forexmarkethours.com/GMT_hours/02/ New York is showm as closing at 5pm EST. It also lists New York as closing at 10pm GMT.
This is true when New York is NOT using Daylight Saving Time (as is the case at present) since New York is (GMT-5).
When New York is using DST New York will be (GMT-4) which means that it closes at 9pm GMT and not 10pm GMT. The website does not appear to make any mention of this.
If DST does affect the opening and closing of the Forex market...
Will the forex market open at 5pm EST on Sunday 11th March 2007?
the open hours, which are for interest for you personally, depend on which broker you use. Forex is not "one" plattform like NYSE, Xetra or anything else. It is a distributed interbank market, where you as a private trader only can enter only via a broker.
Search at the web sites of your broker. He is the entrance to the forex market for you. Check out what are his market hours.
Thanks for the reply. I understand that I can only place trades via a broker. My questions pertained to the actual opening and closing of the Forex market itself.
I had thought that the Forex Market itself opened at 10am Monday Wellington NZ local time and closed at 5pm Friday New York local time. Is this incorrect?
lhookway, focus on the trading. One hour difference on the opening or DST adjustment should not make that much difference on your results. At least, I don't think so. Unless your entire trading system depends on it. Tomorrow, Sunday in Florida, [Monday somewhere in the Pacific Kiwi side of the world], one hour when you think the market is going to open just launch your MT4 platform, stare at it and when the darn price ticks, the market is open. Make your life a little easier. Focus on major stuff.
For me knowing when the market opens and when it closes is fairly important.
I have noticed that with Alpari they actually seem to open trading for the week at 00:00 on Mondays. Since Alpari's servers seem to be GMT+1 they are effectively opening at 11pm GMT on Sunday. Currently the Forex market opens at 9pm GMT (4pm EST) on Sundays. If this is the case then Alpari are opening some 2 hours after the Forex Market itself has opened. Looking back at historic data on and around the reopen period I see big price jumps as a result of this 2 hour lag. I assume that if I have a position open over the weekend with a stop and the stop is exceeded by the time Alpari open then I will be stopped out potentially way past my designated stop.
My trading strategy does not revolve around opening and closing times for the Forex Market. However actually knowing when the Forex market opens and closes is for me something worth knowing.
I will try with my questions again.
Does the Forex Market itself open at 10am Monday Wellington NZ local time and close at 5pm Friday New York local time?
I hope this will help