Topic: Entry Time indicator

Hi,
On the entry time indicator, are the hours in GMT, broker time, or computer clock time?

thanks!

-Jericho

Re: Entry Time indicator

For FSB the time is from the historical data files.

For FST the time comes from the incoming data from the bars.

Re: Entry Time indicator

Hi Popov, thanks for your response.

Still a bit confused though...

So when I say that i want to trade between 8 and 12 in FST, is this 8 and 12 according to my broker who is GMT+1?

or is it GMT?

Thanks for your patience!

Re: Entry Time indicator

When the ticks come from MT4 to FST, they bring Bid, Ask and TickTime info (+ many more). If you have to trade between 8 and 12, the program checks if the TickTime is between that period in order to allow the trade.

FST doesn't use any other time source except the info that comes with the ticks. Therefore, the correct answer has to be that the time comes from the broker, which correct it for your time zone taken by the PC settings. Or with other words, the time for FST is the same what you see in the MT4 chart.

I think MT4 time has to correspond to the PC time. So FST must allow trade when your PC clock shows between 8 and 12. But this is result of the way MT4 shows the tick time. FST doesn't look at the PC clock but only the info that the ticks bring.

Re: Entry Time indicator

Dear all
I have a similar question.
New York can either be EST or EDT. Conversion to GMT is respectively +5 or +4. Thus, the starting time of the NY forex market for example is either 13h in Winter or 12h in the Summer. This creates a problem to me as I my broker uses GMT... If I have an indicator such as entry time = 0, it would mean different things in different parts of the year. So it's risky to use it. I can also avoid such time dependent indicators, which I'm doing now, but I would rather find a good solution. Any ideas?

Re: Entry Time indicator

Indicator can be easily modified to take into account Summer Time change.
You have to check the current date and to correct the time with one hour if it's necessary.

Re: Entry Time indicator

Popov wrote:

Indicator can be easily modified to take into account Summer Time change.
You have to check the current date and to correct the time with one hour if it's necessary.

And to backtest, would there be any trick?

Re: Entry Time indicator

Nothing special. Indicator is read the provided data and takes the current date from there. It doesn't know if data comes from a broker or from a data file.

Re: Entry Time indicator

Popov wrote:

Nothing special. Indicator is read the provided data and takes the current date from there. It doesn't know if data comes from a broker or from a data file.

And you think it's not risky given that the times are not stable throughout the year? Because I see that if I modify the entry time the backtest results change abruptly.

Re: Entry Time indicator

You are asking about "New York can either be EST or EDT. Conversion to GMT is respectively +5 or +4."
I answer about it.

If you know on what dates it changes the time, you can enter this in the indicator. It will do it equally correct on backtest and on live trade.

If the time is variable for the different years, you can add a list for the changes for the last 10 years and it will work well. Of course you have to add the new changes correspondingly.

This is enough simple and reliable solution specific for your case.

Re: Entry Time indicator

Thanks a lot.