![]() MT4 – Market Watch Tab, Broker’s Server Time The picture below shows a GMT+3 broker whose server time is shown on top of the Market Watch window. On the top of this window, the broker show’s their server time. ![]() When in doubt as to which Server time your MT4 broker is following, a simple and easy way to find out is to click on the ‘ View’ from the Main Menu and select ‘ Market Watch’ or click ‘ Ctrl+M’ to display the market watch window. In other words, a bullish engulfing on a GMT time zone based chart exhibits the same bullish sentiment as it appears on the GMT+2 time zone as well. From a technical analysis perspective, traders should simply follow the sentiment offered by the candlestick patterns as they exhibit market sentiment irrespective of whether your broker’s server time is GMT or GMT+2. In view of this confusion, a trader might often wonder whether they want to follow the candlestick patterns on the GMT broker or the GMT+2 broker. However, the differences are noticeable when you focus on the daily or H4 chart time frame candlestick patterns. However, if you shift to a lower time frame, the hourly and lower charts tend to be uniform as far as the candlesticks are concerned. Technically speaking, the only difference between these two types of broker server times is the difference on the way the daily candlesticks are calculated. GMT or GMT+2 broker, which is more ideal? Of course, some brokers tend to offer GMT server time but exclude the Sunday candlestick in order to maintain a uniform, 5 day trading week. As can be understood, the GMT brokers have an additional trading session (i.e: Sunday) for the week. GMT: The GMT brokers tend to offer 6 days of candlesticks during a week, where the Sunday candlestick is also included. Typically, GMT+2(+3) brokers follow the GMT timings of 5PM EST as the open and close of a new day’s trading session. GMT+2 (or +3 during European Summer DST): Forex brokers whose servers are based off GMT+2 (or +3) server time usually tend to offer 5 candlesticks during a week, representing 5 days of trading sessions in the week. The next chart below illustrates the same GBPJPY daily chart but without ‘Sunday’ Candlesticks and based off GMT+2 (or +3). In the chart below, we make use of a GMT broker, where the ‘Sunday’ candlestick is shown on the chart. The first chart below gives one such example. ![]() While this might seem to be not much of an issue, when making use of pivot points (especially daily pivots that are used on the intraday charts) the pivot values vary quite differently.īesides the aspect of the different in pivot points, even the indicators such as moving averages or oscillators such as Stochastics or RSI are also calculated differently in comparison to regular GMT+2 or +3 brokers. For example, most GMT brokers tend to have an additional candlestick such as Sunday candlesticks as well. Depending on the MT4 broker’s server time, the charts or the candlesticks on the charts are calculated differently. ![]() cities for the honor of being the prime meridian.When it comes to MT4 charts, not all brokers are created equally. Using GMT as the starting point forestalled any competition between different U.S. Many cities passed ordinances adopting the system as well, and eventually, it became the standard across the U.S. 18, 1883 - which became known as "the day of two noons" - railroads in North America converted to a system of just four time zones: Eastern Time, Central Time, Mountain Time and Pacific Time. With most sea charts already marking Greenwich as the prime meridian (or longitude 0 degrees), it seamlessly became the dividing line between the Eastern and Western Hemispheres. Rather than relying on local solar days, his system referenced the Royal Greenwich Observatory in the U.K., where Greenwich Mean Time (GMT) was set by the sun's position over the prime meridian. Fleming's innovative approach divided the world into 24 time zones, each roughly 15 degrees apart. In 1876, a missed train due to a timetable error prompted Scottish-born engineer, Sir Sandford Fleming, to rethink global timekeeping.
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