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#supportive
#subchart
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The JST Conversion Indicator allows you to display Japan time above the server time shown on MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Displaying Japan time makes it easier to track chart movements and understand the release times of economic indicators.
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Usage scenarios
Trading aligned with the forex market hours
By using the JST Conversion Indicator, you can view the market in Japan time, making it easy to identify which parts of the chart correspond to the opening hours of the Tokyo, London, and New York foreign exchange markets. This is particularly important when targeting periods of high volatility, such as right after market openings or during overlapping trading hours.
Market analysis considering economic indicator releases
The release timings of major economic indicators, such as U.S. employment statistics, are critical to keep in mind, even if you choose not to trade around those times. This applies equally when analyzing past charts.
Trading strategies leveraging swaps
Easily track time and date changes in JST with this indicator to manage swaps applied when holding positions over market close.
This simple feature displays Japan time, eliminating the need to convert server time into Japan time by yourself. It is particularly useful for those who want to track economic indicator release times and market trading hours in Japan time. We highly recommend it for traders seeking convenience and accuracy in their analysis.
How to install
To use the JST Conversion Indicator, follow the steps below to download and install it.
Step 1
Click the button below to download the indicator for MT4/MT5.
Step 2
Click File > Open Data Folder in the top menu of MT4/MT5.
Step 3
In the data folder, double-click the MQL4 or MQL5 folder.
Step 4
In the MQL4/MQL5 folder, double-click the Indicators folder.
Step 5
Save the JST Conversion Indicator in the Indicators folder.
Step 6
Go back to the MT4/MT5. Right-click Indicators in the Navigator, and click Refresh.
Step 7
In the Navigator, click the + icon next to Indicators. Find the JST Conversion Indicator, then either double-click it or drag it onto a chart.
Step 8
In the indicator settings window, customize the settings on the Inputs tab according to the How to set up page, then click OK.
Step 9
The JST Conversion Indicator is applied to the chart and the JST will be shown above the server time.
How to set up
After applying the indicator to the chart, set the parameters according to your style.
Step 1
First, open the Inputs tab.
Step 2
Set the parameters as follows.
①Automatic time difference adjustment
Select ON or OFF to adjust the time difference automatically. If it's OFF, JST will be calculated based on the broker's server time that you input in the "Server GMT" parameter.
②Server GMT
Use this when you turn the "Automatic time difference adjustment" parameter to OFF. For example, if your broker's server time is "GMT +2", enter "2". Please be aware of daylight saving time adjustments.
③Text color
Set the text color for the JST display.
④Background color
Set the background color for the JST display.
⑤Hourly intervals
Display JST at hourly intervals. Select from OFF or eight different numbers.
⑥Gridlines
Select ON or OFF to show or hide gridlines. It is available when "Hourly intervals" is turned on.
⑦Time until the next candle
Select from "OFF", "Top-right", "Bottom-right", "Top-left", or "Bottom-left" to display the time until the next candle.
⑧Spread
Select from "OFF", "Top-right", "Bottom-right", "Top-left", or "Bottom-left" to display the spread.
