What London Fix does
Large currency orders are priced at the 4pm London fix. London Fix marks that window on the chart and measures what price did around it, so you can see the flow and check whether a reversal after it is worth anything on your market.
The fix window
Shades 15:57:30 to 16:02:30 London every day, in a different colour on the last trading day of the month. Optional shading from 15:00 to the fix and from the fix to 17:00.
Daily moves label
At 17:00 London each day: the move from 15:30 to 16:03 and from 16:03 to 17:00, in pips.
Reversal tally
Over the chart's history: takes the other side of the 15:30 to 16:03 move at 16:03 and closes at 17:00. Shows days, win rate and average pips, before spread.
How to trade London Fix
Open a chart of 15 minutes or less
On MT5, longer timeframes show a note instead of the window. On MT5, set "Server time = New York time + hours" to your broker's offset. The default 7 fits brokers whose server clock is New York time plus 7 hours (GMT+2 in winter, GMT+3 in summer).
Watch the move into the fix
From 15:30 London, note which way price runs into the window. The fix on the last trading day of the month is shaded in its own colour.
Read the label after 17:00
The daily label shows how far price moved into the fix and how far it went after it. A reversal means the second number has the opposite sign to the first.
Check the tally before you act
The tally fades the move into the fix on every day in the chart's history. Compare the average pips with your spread: if the average is smaller than the spread, there is no edge to trade.
Prompts, not trade instructions. A SETUP READY prompt tells you to review the structure on a closed candle. It is never a command to enter blindly.
Setups and chart grammar
London Fix draws three time windows and two numbers per day.
| Setup | Context | What the indicator sees | Goal |
|---|---|---|---|
| Fix window | 15:57:30 to 16:02:30 London | Shaded band, month-end colour on the last trading day | Know when the fix is being priced |
| Before and after | 15:00 to the fix, the fix to 17:00 | Lighter shading either side of the window | Frame the move into and out of the fix |
| Daily moves label | 17:00 London | Pips from 15:30 to 16:03 and from 16:03 to 17:00 | See whether the day reversed |
The five minutes around 16:00 London when the fix is priced.
The fix on the last trading day of the month.
Days, win rate and average pips of fading the move into the fix, before spread.
Settings
| Input | Type | Default | What it does |
|---|---|---|---|
| Shade 15:00 to the Fix | Boolean | true | Shades the hour before the fix window. |
| Shade the Fix to 17:00 | Boolean | true | Shades from the fix window to 17:00 London. |
| Daily Moves Label | Boolean | true | At 17:00 London: the move from 15:30 to 16:03 and from 16:03 to 17:00, in pips. |
| Reversal Tally | Boolean | true | Over the chart's history: the other side of the 15:30 to 16:03 move, taken at 16:03 and closed at 17:00, before spread. |
| Fix Window Color | Color | #ff9800 | Colour of the fix window. |
| Month-End Fix Color | Color | #e91e63 | Colour of the fix window on the last trading day of the month. |
| Before / After Color | Color | #787b86 | Colour of the before and after shading. |
| Input | Type | Default | What it does |
|---|---|---|---|
| InpSerialKey | string | "" | Your serial key from the member portal. The indicator stays locked without it. |
| InpServerNyPlus | int | 7 | Server time = New York time + hours. Sets where London time falls on your broker's chart. |
| InpShowBefore | bool | true | Shade 15:00 to the fix. |
| InpShowAfter | bool | true | Shade the fix to 17:00. |
| InpShowLabels | bool | true | Daily moves label (pips, at 17:00 London). |
| InpShowStats | bool | true | Reversal tally panel. |
| InpDrawDays | int | 120 | Days of history to draw. The tally uses all of the chart's history. |
| InpAlerts | bool | true | Alert when the fix window opens. |
| InpFixColor | color | C'255,152,0' | Fix window colour. |
| InpMonthEndColor | color | C'233,30,99' | Month-end fix colour. |
| InpSideColor | color | C'120,123,134' | Before and after colour. |
Use it in your EA
On MetaTrader you can read the levels and setup state from an Expert Advisor with iCustom().
// MQL5 — read yesterday's fix moves from the last closed 17:00 bar
int h = iCustom(_Symbol, _Period, "iTradeAIMS\\AIMSLondonFix", "YOUR-SERIAL-KEY");
double into[], after[];
CopyBuffer(h, 0, 1, 1, into); // pips into the fix, EMPTY_VALUE on other bars
CopyBuffer(h, 1, 1, 1, after); // pips after the fix| Buffer | Name | Value |
|---|---|---|
| 0 | Into fix (pips) | Move from 15:30 to 16:03 London, on the day's scored bar; EMPTY_VALUE elsewhere |
| 1 | After fix (pips) | Move from 16:03 to 17:00 London, on the day's scored bar; EMPTY_VALUE elsewhere |
Frequently asked questions
The WM/Reuters benchmark rate set at 4pm London. Funds and corporates price large currency orders at it, so trading clusters in the minutes around 16:00.
