I am a US based demo customer of FXCM, using Trade Station II and Marketscope 2.0.
What time does each daily candle open? I’ve been trying to find out myself by matching to the 4-hour candle open/close but I haven’t found a clear answer.
Thanks.
I think they are updated 5pm EST. You can check it also on M1 TF.
Hi FXNoel,
As FXtrendfollower mentioned, daily candles on Trading Station charts open at 5pm New York time. That’s the case regardless of what time zone you select. For example, suppose you live in London and set your time zone to UK time which is 5 hours ahead of New York time. You will see the daily candles on Marketscope open at 10pm UK time.
It’s worth noting that on the MT4 platform, live accounts currently have daily candles that begin and end at midnight GMT, which corresponds to 7pm New York time. However, we have received feedback from many clients requesting that we change the time zone on our MT4 servers, so that the daily candles begin and end at 5 PM New York time. To phase in these changes, we have started by updating some of our MT4 demo servers to test that everything works smoothly, before we proceed with updating our live MT4 servers.
In the meantime, clients who wish to have charts with a New York Close on their live MT4 charts can use the free New York Close indicator available at FXCMapps.com
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Thank you.
[B]UPDATE: New York Close is now available on FXCM’s newest live MT4 server.[/B]
That means your daily charts with have 5 candles per week with no Sunday candle. Note that in order to make this possible, the time zone on this MT4 server is set to GMT+2 so that midnight on the charts corresponds to 5pm New York time (AKA New York Close).
If you have an existing MT4 account with us on a server that’s set to GMT, you can email <[email protected]> referencing your account number to request that the account be transferred to the new MT4 server with New York Close charts. Your account must be flat. Please allow a couple of business days for your account to be set up on the new server. You will receive an email with your new login details when the setup is complete.
[I]* Please let us know your thoughts on our new MT4 server with New York Close charts. Based on your feedback, we can decide how many of our MT4 servers to keep on GMT time and how many to switch to New York Close.[/I]
** FXCM Trading Station charts have always been set to New York Close. Unlike with the MT4 platform, Trading Station allows you to display the time zone of your choice, and the daily candles will still begin and end at 5pm New York time.