The time zone in MetaTrader 4 (MT4) is set by the broker and cannot be changed by end-users. The time is usually set to either GMT or to the local time zone of the broker. This is why you may notice that the time indicated at the bottom of the MT4 platform may not match your local computer time.
Here are few ways to deal with the time zone difference:
- Indicators: There are third-party custom indicators that can display your local time above the MT4’s native time. These indicators can be easily found with a quick online search and are usually simple to install.
- Manual Calculation: Keep in mind the time difference between the MT4 time and your local time. For example, if your local time is GMT+3 and your MT4 platform time is GMT, then you’d need to add 3 hours to convert the platform time to your local time.
- Multi-Time-Frame Charts: Some traders open multiple charts with different time frames to make it easier to see how the market behaves at different times of the day according to the broker’s time.
- Excel/Google Sheets: You could keep a sheet open to manually log or calculate time-sensitive events in your local time. This can be especially useful for news trading.
- Trading Sessions Indicator: You might consider using a trading sessions indicator which highlights the various trading sessions (Sydney, Tokyo, London, New York) based on the MT4 time. This can give you a good idea of which markets are active during different times displayed on your MT4 platform.
- Use An External Clock: Many traders keep an external world clock on their trading desk to keep track of various time zones.
- Consult the Broker: Sometimes the best way to manage time zones is to consult your broker’s customer service for guidance.
- Virtual Private Server (VPS): If you’re using automated trading strategies (Expert Advisors), you might consider running MT4 on a VPS located in the same time zone as your broker’s MT4 server. This will help ensure that your trades are executed when you expect them to be, according to the broker’s server time.
Remember, while these methods help display your preferred time zone visually, the trade execution still operates on the broker’s server time. So, always double-check the time before making a trade, especially when dealing with pending orders.