Level lines from the 'Daily open'
Hi napeharm,
I am interested in this idea but where exactly does the "day" start in FX ?
Depending on the broker used, the MetaQuotes chart package will vary with respect to the time scale.
Or are you only interested in the start of "day" of the country you are in ?
Am I missing the point maybe ?
Open Indicator
Hi,
I was wondering if anyone has made an indicator which places level lines on the chart using the daily open as the reference point. I wish to place levels of + 45 and -45 from the Open.
If anyone has this or is willing to make one i would be very grateful.
Many thanks.
napeharmWill this do - it is just a simple coloured panel graphic of price above and below the Daily Open, Colours and Distance from the Open level are adjustable in the inputs area. If this suits let me know if you need Comments like Open Level, Distance above/Below Open, Price display, Time , Price etc
Hi, cja,
Thanks for that i will give it a go and let you know.
napeharm
Hi,
The actual open on the indicator seems alot higher than the one my platform is showing for some reason. Mine is showing some 40 pips lower. So being able to adjust the open time is going to be essential esp. since i have several platfroms which use differing feeds. If you could add the ability to change the gmt. + or - that would be great. Also could you put lines on indicator instead of coloured areas?, that would keep thiings simple esp. since i have coloured areas already.
This is what my chart looks like presently, it looks messy expanded out but shows where your indicator is showing the open, and is on 5 mins. gbp/us.
Many thanks cja.
napeharm
Hi MLaden,
Could you make this indi working on new metatrader version?
There is 1 error and 3 warnings I cannot repair.
THX Marco 
According to my 2 years trading experience I see, low skilled Forex traders use various kind of trading indicators and EAs on their trading chart. On the other hand, professional Forex traders are not depending on them even their chart is fresh and clean. Because, they depend on their price action knowledge and support and resistant.
Hi MLaden,
Could you make this indi working on new metatrader version?
There is 1 error and 3 warnings I cannot repair.
THX Marco
-
FX opens 5pm ET Sunday and ends 5pm ET Friday. Some brokers start after (6pm is common/end before (up
to 15 minutes) due to low volatility.
Checking for Market Closed - Expert Advisors and MQL5 programming forum Trading - MQL5 programming forum
Swap is computed 5pm ET. No swap if no open orders at that time. Brokers use a variety of timezones. Their local time (with or without DST,) GMT/UTC, GMT+2, NY+7.
Only with NY+7 does the broker's 00:00 equals 5pm ET and the start of a daily bar is the start of a new FX day.
GMT brokers, means there is a 1 or 2 hour D1/H4 bar on Sunday (depending on NY DST,) and a short Friday bar.
GMT+2 is close but doesn't adjust for NY DST.
EET is closer except when their DST doesn't match NY's. Last Sunday of March and 1:00 on the last Sunday of October vs second Sunday in March and return at 2:00 a.m. EDT to 1:00 a.m. EST on the first Sunday in November.
Non-NY+7, means the chart daily bar overlaps the start, and converting broker time to NY time requires broker to GMT to NY timezone conversions.
- If you search the web you will find differing answers. Those are all wrong (half the year) because they do not take DST into account (or that it changed in 2007 [important when testing history.])
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Hi,
I was wondering if anyone has made an indicator which places level lines on the chart using the daily open as the reference point. I wish to place levels of + 45 and -45 from the Open.
If anyone has this or is willing to make one i would be very grateful.
Many thanks.
napeharm