Default value can be represented in two different ways:
Time interval from now — When this option is selected, the default value of the field will be the
time a user opens a form plus the interval. For example if you want the default time
to be yesterday, enter "-1" into
the time interval box.
Fixed time — When this option is selected, a user opens up a form which contains this field
its value will be exactly as specified in Fixed Time text-box.
Displayed format on the device side
||This option defines the format of the date or time, in which the date/time value will
appear on the device panel.