Smd worktime no autogmt mt412/31/2023 ![]() This is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data. Rather it helps traders time their trades based on market sessions which is very important for day traders who need volatility. It does not provide trade entries or trade setups. The Time Zone indicator is not a trend following indicator or a momentum direction indicator. Set the stop loss above the entry candle. Open a sell order whenever there is a bearish momentum is developing during the early hours of that trading session. Wait for the opening time of a major market while trading the currency used in that market. Set the stop loss below the entry candle.Ĭlose the trade as soon as price action shows signs of reversing. Open a buy order whenever there is a bullish momentum is developing during the early hours of that trading session. Trade entries should not be based on this indicator, but instead it should be used in conjunction with other trade setups. The Time Zone indicator should be used only to time the open and close of a major market. ![]() Font size and font color and color of the displays can also be modified on the indicator’s settings. This includes the location of the display which can be modified on the “Corner” variable. This indicator allows for some aesthetic modifications. It then highlights the market and its time whenever the time displayed falls within the market’s open and close time. To do this, the indicator also has preset market hours for each market. The indicator also highlights the market that is open with color red. The Home Time can be modified by the trader by changing the Time Zone within the indicator’s settings.įor example, if you are in a time zone which is UTC+8, then you should modify the Time Zone variable to 8.Īs for the New York, London, Tokyo, and Australian time, the indicator has a preset number of hours that would be added to the Home Time or Local Time to adjust for the differences on time zones. This is where the Server Time is based on. The Time Zone indicator retrieves the time from the server. Since you might need to keep track of various markets and their time zones, you can also use this EST to GMT time converter. It also displays the current time on the time zone where the server is located, as well as the current time on the time zone where you are trading from. It particularly displays the current market time on four major currency markets, which are the New York market, London market, Tokyo market, and the Sydney market. It is a custom technical indicator that would display the current time on different time zones. The Time Zone indicator is exactly what its name suggests. ![]() The Time Zone indicator is a tool which day traders can use to time their trades based on the opening of a major market. This is why many day traders opt to trade only during the early hours of a trading session. This provides great trading opportunities for day traders because day trading requires strong volatility in order for traders to profit. The opening of a major market is often accompanied by high volatility and strong price movements.
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