When trading in the Forex market it’s very important to understand the time zones correctly and to be able to calculate the difference between your time zone and the timezone of your trading server and the timezone of the specific trading session. Some MetaTrader expert advisors (that are created to trade during a certain time or a trading session) require trader to set an input parameter for the time zone difference. Unfortunately, I see that many traders simply don’t understand how time zones work and how to calculate the differences.
First, I recommend reading the Wikipedia article on time zones. Second, when you need to set an input parameter for the time zone difference, you need to know which difference is that — either between server’s time zone and some specific time zone (e.g. GMT or EST) or between server’s time zone and yours. When it’s not stated anywhere, usually, it can be easily understood from the context — the latter (difference between server’s and your time zones) is used quite rarely, only when some data should be aligned with your own local time (for example, when you want the pivot points for your local trading session). The difference between your server’s zone and some specific time zone is a more popular requirement — it’s used in the EAs that were programmed to position trades at some specific time.
Now, you have to find out the time zone values of the zones involved in your differences. Of course, you’ll need to find your server’s time. In MetaTrader that’s quite easy — just switch to an hourly timeframe and check the time of the last candle and compare it with GMT. For example, if your MetaTrader platform shows that the last H1 candle was formed at 10:xx and GMT is 11:xx then the time zone of your server is GMT-1. Unfortunately, MetaTrader (neither MT4 nor MT5) doesn’t allow retrieving the server’s time zone for the inductors, scripts or EAs automatically.
Coordinated Universal Time (UTC) is the primary time standard now, time zones around the world are expressed using offsets from UTC, UTC offset is the difference in hours and minutes from UTC, a time zone can be determined by adding or subtracting the number of UTC offset. Eastern Standard Time (EST) is UTC-5:00, and Eastern Daylight Time (EDT. This is adapted from a mail I used to use at work to inform co-workers about the change in a semi-weekly meeting. I have modified it to use UTC where I previously used GMT. Should cover your question and then some: Glossary: UTC – Coordinated Univ. April 26, 2012, 2:48am. I Have just learnt after years of confusion that the main difference between the two terms ( apart From the 9 sec. ) relates to the fact that UTC cannot change in sync with GMT at the changeover point for GMT to enter Daylight Saving Time therefore a one hour difference appears at that point in time for a period of 7 months.
Your own time zone should be known to you. If you know its name but don’t know how much is it relative to GMT, then just google it or look it up in Wikipedia you’ll see. If you want to know that for some specific time zone (which is different from yours) you can follow the same procedure.
OK, you know all the necessary time zone values, now you have to set up the differences — so, how do you do it? For example, your server’s time zone is GMT-1, your own time zone is PST (Pacific Standard Time, which is GMT-8) and you also want your EA to trade at EST (Eastern Standard Time, which is GMT-5). So, the difference between server’s time and the specific time zone’s time (EST) will be -1 — (-5) = -1 + 5 = 4. The difference between server’s time and yours: -1 — (-8) = -1 + 8 = 7.
If you want to share your thoughts on calculating the timezone difference properly in Forex, please, feel free to reply using the form below.
4pm Est To Utc
- Coordinated Universal Time (UTC) is the primary time standard now, time zones around the world are expressed using offsets from UTC, UTC offset is the difference in hours and minutes from UTC, a time zone can be determined by adding or subtracting the number of UTC offset.
- Eastern Standard Time (EST) is UTC-5:00, and Eastern Daylight Time (EDT) is UTC-4:00, this time zone is called Eastern Time Zone (ET) in the United States, parts of eastern Canada, Mexico, Panama and the Caribbean Islands.
- Support daylight saving time (DST) or summer time.
- UTC to PST
Convert to Pacific Standard Time
- UTC to MST
Convert to Mountain Standard Time
- UTC to CST
Convert to Central Standard Time
- UTC to GMT
Convert to Greenwich Mean Time
Time Difference Between Utc And Est During Daylight Savings
- PST to EST
Convert from Pacific Standard Time
- MST to EST
Convert from Mountain Standard Time
- CST to EST
Convert from Central Standard Time
- GMT to EST
Convert from Greenwich Mean Time