Description
Half the secret to being successful in the ForEx markets is timing. I haven't seen a reliable market hours indicator posted here, so here is my verison. Opening and closing times for the New York and London markets are based on 8 to 5 business hours. Opening and closing times for Sydney and Japan are based on 9 to 5 business hours. Some people use 6pm close time for Tokyo and some use a 4pm close time for Sydney. However, did you know that ForEx trading hours are not based on corresponding stock markets close times? They are based on investment banking business hours. You can set the hours as you like within the indicator. Many beginers think once you convert the business hours to local time that you will have the market hours all figured out, but its not that simple. Did you know that Daylight savings starts on different days in London and New York. So there is a period in March where opening time in New York is at 12pm instead of 1pm. Did you know Daylight savings in Austrailia is reverse that of New York so that opening times shift 2 hours instead of one between the winter and summer months, leaving a 2 hour gap between the New York close and the Sydney open? Do you know which timezone your broker is using and how it affects the conversion? Well all that is taken care of with my handy dandy market hours indicator! WooHoo!
The markets are color coded and I assigned the market hour value to the result so you could better visually see as markets are coming to a close and execute trades based on specific hours. Make sure you comment out the LocalTime zone which does not apply to you. cTrader brokers seem to be using either Cyprus time or UTC Local Time Zones. Hope it helps!
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lec0456
Joined 14.11.2012
- Type: Free
- Language: C#
- Trading Platform: cTrader Automate
- Filename: Real Market Hours.algo
- Rating: 5
- Installs: 5902
Comments
Tnak you a lot!
Hi, is it possible to make the sessions appear as very light colour boxes on the chart rather than dots under the chart?
if you are live it will give you a different value depending on when you run it. but it works for me.just the way you mention. As far as daylight saving, the system time functions take care of that when you convert. so, all is good.
if you are live it will give you a different value depending on when you run it. but it works for me.just the way you mention. As far as daylight saving, the system time functions take care of that when you convert. so, all is good.
Hi All,
This looks like a great indicator lec0456 so I've tried to use it in a bot I'm writing but can't seem to get it working.
Say I want to create a position after London has opened, I thought this would suffice:
protected override void OnTick()
{if (_realMarketHours.London.LastValue > 0) {
Print("_realMarketHours.London.LastValue: {0}", _realMarketHours.London.LastValue);
//create position
}
}
However running this on a backtest produces different results in the log every time.
Can I use it this way?
Many thanks
Thanks, this is superior, awesome!
So, just uploaded a big update to this indicator related to all the recent platform changes in handling the Time. So now the robot uses the timezone set by the new timezone attribute of the indicator. Before, there would have been issues if you set the indicator timezone to something different from the broker timezone, but now they are one and the same. Good Luck!
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