Chart candles and server times

[Tottina777]

Hello,

I recently changed broker whose server time is GMT. My previous broker was on GMT +2. now all my chart setups (4H) are incorrect. Anyone know how I can correct this? Is there a program or tip to continue with the broker and keep my chart setups as they are?

Thanks

[Sergey Golubev]

All chart setup is related to the broker's/server time.
Chart/price time is related to GMT+2 if your broker's time (broker's server time) is having GMT+2.

If the other broker is having GMT-6 so all your chart must have GMT-6.

[Sergey Golubev]

You can use any clock (or server clock) indicator from here to show/to see this time.
But please note that the market is closed for weekend (all the charts are showing the price/time from Friday or Sunday for example).

You should wait for Monday (tomorrow) when the forex market will be opened and the chart will be started to move.

[William Roeder]

Tottina777: Anyone know how I can correct this?

1. As already stated, there is no correction other than to change brokers or use H1 and lower charts or adapt.

2. • 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.
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     Swap is computed 5pm ET. No swap if no open orders at that time.

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   • 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 (and H4) 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.

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   • 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.])