How to change the mt5 time zone

What is MetaTrader 5？

MetaTrader 5 (MT5) is a platform that allows you to trade Stocks, CFDs, Forex, and Futures. With MT5, traders can use algorithmic trading applications to automate trades, including trading robots and Expert Advisors (EA). You can build your own EAs or import built-in EAs onto the MT5 platform.

Here are other features of MT5:

Multiple open positions

Accurate technical and fundamental analysis

Up to 100 Stock quotes and currency charts

21 different timeframes

Top features of MetaTrader 5

Predicts market direction

MT5 offers multiple analytical tools for comprehensive price analysis and forecasting. It has 38 technical and 39 graphical indicators to understand the market movement and direction better, apart from 80 built-in analytical indicators.

Supports the advanced Market Depth feature

MT5 features Market Depth, enabling you to see the best bids and offers for a particular asset. It tells you the security's market liquidity, and the number of standing buy and sell orders at different price levels. A greater market depth means that the chances of significant trades getting affected by minor price movements are lower.

Accurate fundamental and technical analysis

MT5 offers several advanced tools for fundamental and technical analysis. MT5 also provides inbuilt advanced reports for analysing trading activities quickly. The reports can track initial and final values of the instruments. It can also forecast price movements with minimal deviation.

Automated trading

With automated trading, MT5 can trade positions on your behalf and execute trades even when your machine is off. By using the power of automation, MT5 allows you to process extensive information and multiple orders quicker with little to no intervention from your end.

Top MetaTrader 5 Indicators

Trend Indicators

Trend indicators are used to identify trends in the markets and could help forecast future prices.

Envelopes

An Envelope is formed by two Moving Averages, one shifting upward and the other shifting downward. This trend indicator shows the lower and upper margins of a security's price range.

Moving Average

The Moving Average trend indicator indicates the mean price value of the security in a specific time.

Standard Deviation

Standard Deviation depicts the market volatility value of the security. It shows the price movement fluctuations. If its value is high, the market is volatile.

Bollinger Bands

Bollinger Bands are trend indicators that showcase the market price volatility of a security over a period. The bands widen when the market is volatile and contract when it is less volatile.

Average Directional Movement Index (ADX)

The ADX technical indicator helps identify an existing price trend over a period. It helps eliminate false signals to ensure that only significant price movements are considered.

Oscillator indicators

Oscillator indicators depict the price deviation of the security from its average price value. It helps predict potential trend direction in the market.

Average True Range (ATR)

The ATR indicator shows the market's volatility. A higher ATR value could mean that a trend reversal will come soon.

Williams Percent Range (Williams %R)

Williams %R helps identify if an asset is overbought or oversold. When it shows a value between 80% to 100%, it indicates an oversold market. When the values are between 0% to 20%, it shows an overbought market.

Momentum

The Momentum indicator measures the price changes of a security over a certain period. It can be used in confluence with the Moving Average Convergence Divergence. The Momentum sends a buy signal if it increases, while a sell signal is sent if it decreases.

DeMarker

The DeMarker indicator compares the maximum price of the current period with the maximum price of the previous period. When it falls below 30, it sends a bullish reversal trend signal. If it goes beyond 70, it sends a bearish reversal trend signal.

Commodity Channel Index (CCI)

CCI measures the commodity price's deviation from its average price. When the commodity channel price is higher than the average price, it sends a high price signal. Whereas a low price signal is sent vice versa.

Volume indicators

Volume indicators account for the volume of the trade. This can mean the number of trades executed in a specific period or the number of price movements in a particular time interval.

Volume

Volume indicates the number of price movements within a period. It consists of a green bar, which is the current bar's volume being more than the previous one, and it has a red bar, which means a smaller volume of trade than the previous one.

On Balance Volume (OBV)

This indicator relates volume to the price change of a security. If the security's price is greater than the OBV movement, it indicates a bull market. A bearish market is suggested if it is lower than the security price.

Money Flow Index (MFI)

MFI measures the buying and selling pressure of an asset through price and volume. It also measures the flow of money in and out of an asset over a certain period.

Accumulation and Distribution (A/D)

A/D is calculated through the changes in volume and prices of a security. When it increases in value, it sends a buy signal and vice versa.

Bill Williams indicators

These indicators are part of the trading system developed by the American trader and author of books in trading psychology, Bill Williams.

Fractals

A fractal helps detect the market's highest and lowest price movements. An upwards fractal is made of five bars, where two are before and after the highest maximum point of a market. The lowest low is defined by the lowest bar in the middle of the two higher lows before and after the lowest low bar.

Awesome Oscillator

The awesome oscillator indicator measures the market momentum with a 34-period Moving Average. When the histogram is above zero, it sends a buy signal. When the histogram is below zero, it sends a sell signal.

Market Facilitation Index

This indicator shows the change in prices of a security. When it moves in the same direction as the volume, it indicates that the price movements have picked up speed. When the two move in opposite directions, it suggests that there is confusion between buyers and sellers.

Gator Oscillator

Gator shows the degree of convergence and divergence in the market. It is indicated by a histogram that plots the distance between the red and green averages. Contracting red bars refers to a slowing trend while expanding green bars indicates that the trend is gaining strength.

Williams Alligator

This indicator uses three Moving Averages of 5, 8 and 13 periods. The Williams Alligator identifies sudden trends using smoothed Moving Averages.

How do you trade on MT5？

Sign up with a broker. Use the MT5 extension we offer for free.

Download the MT5 platform on your device and log into your account with the credentials you used to sign up.

Open your first position on the Order window. You can choose from multiple order and execution types or let the system place orders on your behalf.

Monitor your positions. You can do this on the Terminal window.

Modify stops, limits, and orders as per your trading objectives through the Terminal window.

Customize charts, indicators, and set up price alerts that update you on market prices.

View trade history from your Terminal window and download trade reports with detailed information on your trades and account summary.

What is GMT？

GMT is the time at the Royal Observatory in Greenwich, London. The time here is used as a benchmark against all other time zones across the globe. During Australian daytime saving time, GMT is 11 hours behind Melbourne and Sydney. Therefore, the platform time for MetaTrader 4 and MetaTrader 5 is 9 hours behind Melbourne and Sydney (GMT +2 hours). Using this time zone also coincides with the closing time of the New York Stock Exchange, being 5pm EST.

Daylight saving

The time zone changes periodically with different daylight-saving times, so for example in winter, the platform time changes to GMT +3 hours. It changes twice a year to stay in line with the NYSE. The time adjustment briefly affects trading on MetaTrader the following Monday, with CFD indices opening an hour later than normal. Trading hours then resume back to normal until the end of daylight saving.

When will it happen in 2024？

In 2024, New York will begin daylight saving on Sunday, March 14, where clocks will be turned forward an hour at 2 am. Then again on Sunday, November 7 2021, where clocks will be turned back an hour.

In MetaTrader 5 (MT5), you cannot directly change the time zone within the platform, as MT5 automatically uses the server time provided by your broker. This time setting is based on your brokers server location and cannot be modified by the user. However, here are a few work arounds to manage or adjust to different time zones:

Use an Indicator to Display Local Time: Some custom indicators are available that display your local time on MT5 charts. You can find these indicators in the MetaTrader Market or code one if you are familiar with MQL5 (MetaQuotes Language 5).

Convert Time Zones Manually: If your broker‘s server time differs from your preferred time zone, you can calculate the time difference manually. For example, if your broker’s server time is GMT+2 and youre in GMT+0, adjust mentally or label specific times accordingly.

Switch Brokers: Some brokers use different server times (e.g., GMT, GMT+1, GMT+2), so you could switch to a broker with a time zone closer to your preference if its essential to your trading strategy.

Use the Web or Mobile App: MT5s mobile or web versions may offer time displays that are easier to manage alongside your device's local time. This could help when you need quick visual references between server and local time.

These methods can help you adjust without changing the core time zone of the MT5 platform.