D1 Candles and Server Time

[leonyde]

I'm getting very very confused on this issue. I did some research, but I did not find any reliable information on how daily candle are calculated. Maybe my own confusion makes me somehow unable to search properly...?


Does anyone have a simple and straight answer to this?

Are all daily candle based on GMT+0?
Or are they dependent on the broker's server time?

[johny]

Hi,

No, they ALL are NOT based on GMT+0. Yes, they are dependent on the Broker's server time. They close at midnight of server timezone.

Eg:

MBT MT4 is EST. so, they close at New York Midnight ~11:59:59:59 PM EST (which is 4 AM GMT/ 5 AM BST [DST ON]).

Alpari is GMT+1 [Europe Time Zone] (Now DST is ON so GMT+2). Hence close at 9:59:59:59 PM GMT.

FXCM MT4 server time is GMT+0. Hence they close at 11:59:59 PM GMT.

Best Regards,
Johny

[leonyde]

THX Johny!!!

[Humble]

But is one better than the other?

We are all looking to read PA on charts, when are charts are not all the same (above the 1 hr t/f). Is PA better reflected when formed on one timezone than another? (I'm wondering if the BIG money use their own timezone or use a common timezone)

[Brookmyre]

But is one better than the other?

We are all looking to read PA on charts, when are charts are not all the same (above the 1 hr t/f). Is PA better reflected when formed on one timezone than another? (I'm wondering if the BIG money use their own timezone or use a common timezone)

I guess this may in part be the point of combining candles.....Maybe PA is clearer because you are looking at it in the same or similar tf to that in which the orders were placed. It kind of makes sense to me that combining candles and shifting the start times of the candles to 'clarify' the PA might relate to timezones and broker feeds.

Of course I could be completely wrong