MT4 Daily Time Zones

[mark.fuller]

How can I set up my Daily Charts in MT4 to close on NY time when my computer time is set to London time?

[mark27q1]

I have the same question. Looks like daily bars are cut in MT4 by default at midnight GMT. I'm in Japan currently using a Japan Demo server. I'm researching moving from FXCM Strategy Trader where I currently trade live to FXCM's MT4 offering.

The fact that the bar cuts in a different place gives us a 3-hour (at the moment) bar between 17:00 Sunday ET when the market opens for the week, which is 21:00 GMT until 00:00 GMT when a new bar is cut. You then get a 24-hour bar for Monday, a 24-hour bar for Tuesday, a 24-hour bar for Wednesday, a 24-hour bar for Thursday and a 21-hour bar for Friday, until 21:00 GMT Friday night which is 17:00 Friday ET when the market closes for the week.

The result is an "extra" bar per week, 3 hours long in summer and 4 in winter which completely messes up all technical indicators applied to the daily charts, because they see this "extra" closing price which they factor into their calculations, producing erroneous indicator values.

I've got to think I'm missing something really obvious here, as I can't imagine the MT4-using community of FXCM would accept having manifestly incorrect indicator values on any daily chart. Is there a way to re-adjust the data so the daily bars open and close in alignment with the actual market weekly open and close?

Here's hoping I'm asking a really stupid question...

[A.Gettinger]

I'll try to write indicator which draws a candle from any hour.

[mark27q1]

I'll try to write indicator which draws a candle from any hour.

How did that work out for you?

[mark.fuller]

Any movement on a solution to this problem would be greatly recieved

[A.Gettinger]

The indicator draws daily candles (start time of the trading day specified by the user).
The indicator chart is shifted from the original chart vertically.


Download:
Custom_Day_Candles.zip