Time is an important element in the trading strategies and algorithms of theÃÂ majority of Forex Robots and they may also employ News Filter during high impact news and events to avoid large losses. The right GMT offsetÃÂ is then necessaryÃÂ for these Forex Robots to exactly set the trading time and the incoming news and events time.
TheÃÂ official world reference for timeÃÂ isÃÂ Greenwich Mean Time (GMT), also called Coordinated Universal Time (UTC) while time zones of other areas in the world are expressed in relation to UTC or GMTÃÂ likeÃÂ UTC - 3h or GMT - 3h where -3h means that this time zone is 3 hours beyondÃÂ UTC or GMT, whereasÃÂ inÃÂ UTC +3h or GMT +3h, the +3h means that it's 3 hours ahead of UTC or GMT. This difference between a time zone local time and the GMT/UTCÃÂ is calledÃÂ GMT offset.
Brokerage companies exist in different areas of the world with different time zones and they follow the time zones of the countries they are located in. So the correct GMT offset is necessary to be correctly determined for the broker and added to the Forex Robots settings or they won't be able to trade or stop trading in the right time with negative effect on their performance and profitability.
Setting it to TRUE will let the robot to automatically detect the right GMT offset for the current broker, while changing it to FALSE will necessitatesÃÂ adding a value to theÃÂ ManualGMT_OffsetÃÂ setting field and it should be the broker rightÃÂ GMT offset. This manual GMT offset entering is rarely needed when the robot'sÃÂ Automatic GMT offset detection system fails which could be caused by wrong set computer / VPS time zone.
This parameter should be filled with the broker'sÃÂ winter GMT offset if you have changed theÃÂ AutoGMT_OffsetÃÂ value to FALSEÃÂ and also when you are backtesting Volatility Factor Pro. Adding wrong values to this parameterÃÂ could result in abnormal behavior of the robot.
Some countries includingÃÂ the brokers in there shiftÃÂ the GMT offset with +1 hour in the end of MarchÃÂ and change it back in the end of October which is called day time saving. If this is the case,ÃÂ DST_UsageÃÂ needs to ne set to TRUE. The robot's second trading systemÃÂ (Signal 2) function is dependent on and greatly affected by this parameter's value.
LeavingÃÂ the GMT settings with their default values is recommended by the Volatility Factor Pro developers, as the Automatic GMT Detection system works well in the high majority of cases.