Greenwich Mean Time
New York

What is Greenwich Mean Time (GMT)

GMT stands for Greenwich Mean Time, the local clock time at Greenwich. Greenwich Mean Time is the yearly average (or ‘mean’) of the time each day when the Sun crosses the Prime Meridian at the Royal Observatory, Greenwich.

GMT offset and it's requirement in Forex trading?

The foreign exchange (FOREX) currency market is not traded on a regulated exchange like stocks and commodities. Rather, the market consists of a network of financial institutions and retail trading brokers which each have their own individual hours.

Forex brokers do not have servers based on the same time zone. So every broker has different time in their MT4 terminal according to the location of it's server.

Now suppose I set my EA on my broker for not to trade from 1:00 to 3:00 hours. But if you are using different broker then you can't set same hours due to different time in MT4 terminals. Thatswhy we consider GMT as standard time and other Time Zones are defined by GMT offset (how many hours different they are from Greenwich Mean Time).

How to find the GMT offset value for your MT4 terminal?

  • First of all find out Server time of your broker. Inside your MT4 click on the ‘View’ from the Main Menu and select ‘Market Watch’ or click ‘Ctrl+M’ to display the Market Watch window. On the top of this window, the broker show’s their server time. (make sure that market is open and Market-Watch is showing running time)

  • Now this is the live running GMT clock.

  • Now see difference between server time and GMT. You can use the above running GMT clock. This difference is the GMT offset. For eg. if your MT4 terminal is showing 21:00:00 time and GMT time is 19:00:00. Then it means your MT4 terminal is ahead 2 hours from GMT. So your GMT offset will be +2.

  • If all these things are looking cumbersome, then just ask GMT offset from your broker, and don't think so much.

  • Now In EA settings dialog box there is a parameter GMT_Offset. You have to enter this GMT offset value like following:

  • Done!

If you have any question in your mind, then please email me at Steffan.Kors@Gmail.Com or contact me via Contact Us page. 

© Copyright 2010-2021 SuperScalper.Xyz Privacy Policy Terms & Conditions