Introduction
Time Broker Deriv is an indicator designed specifically for synthetic indices Boom and Crash, as well as other trading pairs available on the MT5 platform. Its primary function is to provide the broker's time compared to our local time. Sounds simple enough, right? Well, simplicity can be a double-edged sword. While some traders find it useful for knowing the exact time they are trading on Deriv, others might scoff at its lack of advanced features. But hey, it has a 5-star rating, so it must be doing something right.Installation and Setup
Installing Time Broker Deriv is as straightforward as it gets. Follow these steps to get it up and running:- Download the indicator file from here.
- Open your MT5 platform and go to File > Open Data Folder.
- Navigate to MQL5 > Indicators and paste the downloaded file.
- Restart your MT5 platform.
- Attach the indicator to any chart by going to Insert > Indicators > Custom > Time Broker Deriv.
Once installed, you can customize the display options such as position, font size, and color through the input parameters. This ensures that the time display is clear and fits your trading setup.
Experience Using Time Broker Deriv
Let's be honest, Time Broker Deriv isn't going to blow your mind with groundbreaking features. It does one thing and does it well: showing the broker's time. This can be crucial for strategies that depend on precise timing, like scalping or high-frequency trading.From my experience, the indicator is reliable and doesn't hog system resources. It's a good tool for beginners who need to keep track of the broker's time without any distractions. However, if you're an advanced trader looking for more sophisticated tools, you might find it lacking.
Tips for Improvement
While Time Broker Deriv is simple and effective, there are a few ways you can enhance its utility:- Combine it with other indicators that provide market sentiment or predictive analytics.
- Use it alongside a robust risk management tool to ensure you're making well-timed decisions.
- Regularly update the indicator to ensure compatibility with the latest MT5 platform updates.
These tips can help you get the most out of this straightforward tool, making it a valuable part of your trading arsenal.
Source Code of Time Broker Deriv
We don't have access to the original source code of the Time Broker Deriv indicator sold on MQL5. However, based on its description, we have created a sample code that replicates its functionality. This code is available on easytradingforum.com. Remember, this is just an example and not the actual code sold on MQL5.
Code:
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