is Hour-of-Day for each H1 bar, independent of broker time setting ?

 

we all know there's a repetitive pattern in price changes based on the hour of trading day, which is an indicator of global forex markets sessions and their overlaps.

but since there's 24 hours per day, and 120 hours per week, in each forex trading week, does it mean no matter the time settings of any broker, the pattern (the example image below) is seen based on the day open times?

red lines are the D1 open times, candles are H1. marked times are when this forex pair showed price movement.

it's clear the pair (EURUSD) is most active in a specific period of day.

https://c.mql5.com/3/430/ss.jpg

Question is : are these active periods gonna shift in time relative to D1 open times (red lines) depending on timezone / broker time settings ?

This means instead of calculating the HoD based on the datetime variable of H1openTime (and MqlDateTime structure), we calculate the HoD based on H1openTime - D1openTime (using Division and Mod operation)

Files:
ss.jpg  433 kb
 

H1 and D1 open times depend on broker's timezone. H1-D1 will always be a multiple of 3600 seconds.

If you are trying to match a pattern to time of day, you need to convert your broker's TZ to that of the pattern.

Chart times are broker times.

  1. How can MetaQuotes know all brokers' (they come and go daily) Time zone and Daylight savings time (if they use it and including historical changes for back testing)? Do you have that information for just you and your broker? Only then, with code, can you convert session times to broker's time to UTC to local time. You can use offset inputs, but then you must maintain them correctly, through all three DST changes when they occur.
              When is the time zone problem going to be fixed? - General - MQL5 programming forum (2020)

  2. Foreign Exchange (FX) market opens 5 PM New York (NY)/Eastern Time (ET) Sunday and ends 5 PM NY Friday. Some brokers start after (6 PM is common) and end before (up to 15 minutes) due to low volatility.
              Checking for Market Closed - Expert Advisors and Automated Trading - MQL5 programming forum (2016)

    Swap is computed 5 PM ET. No swap if no open orders at that time.

  3. Brokers use a variety of time zones. Their local time, with or without Daylight Savings Time (DST), London, UTC, London+2, UTC+2, NY+7.

    Only with NY+7 does the broker's 00:00 equals 5 PM ET and the start of a daily bar (and H4) is the start of a new FX day.

    GMT/BST brokers, means there is a 1 or 2 hour D1/H4 bar on Sunday (depending on NY DST), and a short Friday bar. (Problems with indicators based off of bars.)

    GMT+2 is close but doesn't adjust for NY DST.

    EET is closer, except when their DST doesn't match NY's. Last Sunday of March and 1:00 on the last Sunday of October vs second Sunday in March and return at 2:00 AM EDT to 1:00 AM EST on the first Sunday in November.

  4. Non-NY+7, means the chart daily bar overlaps the start, and converting broker time to NY time requires broker to UTC to NY timezone conversions.


  5. If you search the web, you will find differing answers. Those are all wrong (half the year) because they do not take DST into account (or that it changed for the US in 2007 [important when testing history.])


  6. Then there are (non-24 hour markets) with H4 candles that start on odd hours.
              Why My XAUUSD 4H candles start with 1 hour shift? - Currency Pairs - General - MQL5 programming forum (2019)
              H4 first opened candle - MT5 - General - MQL5 programming forum (2020)

    And H1 on the half hour.

  7. See also Dealing with Time (Part 1): The Basics - MQL5 Articles (21.10.01)
    and Dealing with Time (Part 2): The Functions - MQL5 Articles (21.10.08)

 
from the first post :
dandybandy:

Question is : are these active periods gonna shift in time relative to D1 open times (red lines) depending on timezone / broker time settings ?


I know the times are dependant on broker's TZ.
the question is whether these marked times on the attached image (the purple ovals) will be shifted in time (right or left doesn't matter) if the broker TZ is changed or they'll stay in their place relative to the red lines?