MT4 time of day specific strategy

[ryanair737]

Hi, hoping someone can help to clarify something for me. I've just started using MT4 and am trying to manually backtest a strategy. The strategy is time of day specific and I have noticed that the timing of candles on the chart differs from the timing on my IG Platform. I am in Australia so both accounts have different time zones however after doing the calculation they don't cross over correctly for the entire year. For example on todays date 5pm Aus correlates to 8am Uk, which is what world clock says is correct. However even after I do the daylight savings conversion any time before March 30th is still one hour out. Can somebody please confirm the system that is used for timing on the MT4 platform. Does it not change with UK time during the daylight saving clock changes? 

Any help greatly appreciated

Thanks!

 

[Caseynotes]

5 minutes ago, ryanair737 said:

Hi, hoping someone can help to clarify something for me. I've just started using MT4 and am trying to manually backtest a strategy. The strategy is time of day specific and I have noticed that the timing of candles on the chart differs from the timing on my IG Platform. I am in Australia so both accounts have different time zones however after doing the calculation they don't cross over correctly for the entire year. For example on todays date 5pm Aus correlates to 8am Uk, which is what world clock says is correct. However even after I do the daylight savings conversion any time before March 30th is still one hour out. Can somebody please confirm the system that is used for timing on the MT4 platform. Does it not change with UK time during the daylight saving clock changes? 

Any help greatly appreciated

Thanks!

 

Hi, hopefully a mod will help out but a couple of points.

The IG platform (and I would have thought the mt4 platform as well) should be time stamped with the Oz IG office (Melbourne) time. Was your mt4 downloaded from the UK IG web page rather than the Oz one?

Also I think that when the time changes happen they shift the entire history back or forward 1 hour rather than just to a specific date.

[ryanair737]

Hi, thank you for getting back to me. As far as I can find online the MT4 platform has to be in UK time. Unlike the IG platform which is local Melbourne time for me. I could be completely wrong on this. 

Although Melbourne time would be easier for me the main issue is just knowing exactly what the correct time I'm looking at is. As the two don't correlate I'm now unsure if the 5pm candle in Melbourne is the 8 or 9 am candle in the UK. This is especially the case when I go back in history further than the IG platform data as I have no other source to compare timings. 

I imagine there must be an exact formula to work out which is the correct candle but without having more data to look at and compare times I can't figure a way to do it.

[Caseynotes]

11 minutes ago, ryanair737 said:

Hi, thank you for getting back to me. As far as I can find online the MT4 platform has to be in UK time. Unlike the IG platform which is local Melbourne time for me. I could be completely wrong on this. 

Although Melbourne time would be easier for me the main issue is just knowing exactly what the correct time I'm looking at is. As the two don't correlate I'm now unsure if the 5pm candle in Melbourne is the 8 or 9 am candle in the UK. This is especially the case when I go back in history further than the IG platform data as I have no other source to compare timings. 

I imagine there must be an exact formula to work out which is the correct candle but without having more data to look at and compare times I can't figure a way to do it.

If you click on the mt4 'Market Watch' icon top row, at the top of the panel is the 'Server time' or you can google mt4 server time indicator free download for an indy to display on the chart.

[Naoto]

Have the same case as of Caseynotes. Thanks  @Caseynotes for the tip.

[Caseynotes]

3 hours ago, Naoto said:

Have the same case as of Caseynotes. Thanks  @Caseynotes for the tip.

👍