2009.01.07 EDUCATION TIME

[TheRumpledOne]

2009.01.07 EDUCATION TIME



Since we are trading based on SESSION OPEN TIMES, you need to understand what TIME we are talking about.

There are 3 different times:

BAR TIME - time of the current bar

SERVER TIME - time of the server

LOCAL TIME - your local time.

THEY USUALLY ARE NOT THE SAME!!

For MT4, if you want to know when the London session opens, you need to figure out that time based on SERVER TIME - NOT YOUR LOCAL TIME!!

I am on MST.

London opens at 1:00 AM local time. But it is 9:00 SERVER TIME.

NY opens at 6:00 AM local time. But it is 14:00 SERVER TIME.

I have attached the $_TRO_TIME indicator that displays the times in the upper left hand corner.

I also attached a modified version of b-clock, that counts down the time left in the current bar.

Here's a link to show you when the various markets are open:

MARKET OPENS

[prochargedmopar]

This is another cool market hrs web page that shows you the markets that are currently open "at a glance"

http://forex.timezoneconverter.com/inde ... &refresh=5

Be sure to set your timezone in the drop down box.
Procharged

[TheRumpledOne]

Thanks for sharing, Pro.

[prochargedmopar]

TRO,
Will you please help me get this time thing straight in my head for DIBS ect.

I'm central time.
Example:
Local 17:05p(5:05pm)
Serv. 01:05
Bar. 01:00

What would my settings be in Dibs?
What is the mst for?

Should I just shift all settings 1 hr from what your settings are default?
Not sure why I'm having such difficulty with this.
Also, once I get the settings right for one I can change all other indicators to the same. correct?
Thanks.
Pro

[TheRumpledOne]

Where you are DOES NOT MATTER!!

You must figure out what time on your server corresponds to the opening time that you want.

My server time 14:00 corresponds to the New York open.


Yes, once you figure it out, change the setting in the other indicators that are based on session open time.

[willkohsg]

hi TRO,
may i ask what's the Take profit for Dibs method?

Regards,
William Koh

[TheRumpledOne]

You take what you can, when you can.

[chuchu]

Hi Tro,

For the TRO_Bias_EZ indicator (the one which shows the direction of for one hour and one day using arrows), what is the starting point (time) to calculate the direction of the arrow for the one day arrow? I don't see it as an option to be set.

regards,

Richard

[TheRumpledOne]

The input myOpenHHMM = "14:00" is what you need to set.

For me, 14:00 server time corresponds to the New York open.

[chuchu]

Thanks, but unless I am totally off base, I just don't see any input for this.

I hope we are talking about the same indicator. Attached is a picture of the one I am talking about, which is named TRO_BIAS_EZ from the 2008 donational pack (don't see this in the 2009 pack). The one I am looking at has no input to set the start of the day, nor is there any obvious change to be made in the code.