Baluda wrote:About GMT settings
My newest indicators:
- DWMP for 10.3 v1.0.8,
- MultiTenPointThree v1.1.1 and
- Bob's Biggest Balls Ever, v1.0 (Steve's newest EA, but based on my indi's)
support shifting the day change to an hour of your choice. Why do we want this?
- Different b*rokers start their trading days at different hours. (ie Cowboy IBFX at GMT+0, FXOpen at GMT+2.)
- This leads to different daily pivots (DP) and daily open (DO).
- Popular trading systems like Bob's 10.3 use DP and DO extensively.
- When different b*rokers have different DP and DO's we can not compare trading choices.
- Therefore we need to synchronize the trading days of our b*rokers.
The indicators and EA mentioned earlier all shift the day change to GMT+2. Why GMT+2?
Because GMT+2 is the exact time when the Australian market opens. GMT+2 is the hour when every 24 hour trading
day starts, every monday through friday. Moreover it is the time the trading week starts on monday and it is
the time the trading week ends on friday.
For the time and time zone challenged among us, GMT+2 is the same time as New York close.
Happy GMT+2 trading!
Paul
Hello Paul,
A second read of your quoted reply raises a couple more questions.
First, "...b*rokers start their trading days at different hours. (ie Cowboy IBFX at GMT+0, FXopen at GMT+2.)..." Actually GMT Offset serves as the time that the b*rokers servers use. It's the number of hours before or after GMT. GMT+0 means that Cowboy IBFX's servers use GMT time, irregardless of their physical location.
Secondly, "...we need to synchronize the trading days of our b*rokers..." Since Forex is not a centrally-controlled market (like Stock/Commodities), I doubt if we will every be able to synchronize their trading days or their prices. Since DO and DP are calculated from either previous or current prices, and there is no guarantee that OHLC for any one b*roker matches that of another b*roker, I think that it's highly improbable that we will every see identical DO's and DP's between b*rokers. They will be similiar but not identical.
Nanningbob (Bob) has put far too much effort and work into his systems for this can of worms to be allowed to be opened. Again, these are my personal thoughts on the subject.
Regards,
-Frank
P.S. I did check again with
http://www.babypips.com. There were a couple of typographical errors between the tables I saw 6 months ago and what I saw today, but essentually they were the same.
P.P.S. I tried using DWMP 1.08 yesterday, with GMT+2. The results were disasterious, however, I couldn't tell if it was from the DO/DP calculations or the GMT Offset.
