The Market Sessions indicator is a convenient way to track down the market sessions on the chart. It can be used on each timeframe for depicting all the time information and calculating the difference between the highest and the lowest price of the chosen period.
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Works on MetaTrader 5®
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This indicator is intended for the market sessions designation on the chart. It draws multicolored rectangles for each market session. The user can fill in each rectangle with any color he wants.
There are several market sessions:
New York session;
There are special period separators upon all timeframes. They show dates(a year, time, day of the week) depending on a chart period and settings.
There are various options for higher-level timeframes. The indicator calculates the distance (in pips) between the minimum and the maximum price in the timespan depending on the chart period.
The indicator on the H1 chart with default parameters
Adjust for DST automatically — detects daylight saving time and draws sessions based on it automatically;
Show Session Range — turn on/off showing distance (in pips) between the minimum and the maximum price for each session timespan;
Start From Hour — draws vertical lines to determine start hour;
Start From Minute — draws vertical lines to determine start minute;
H4 Chart — allows choosing from which day to draw the week on the H4 chart;
Daily Chart — allows selecting the rendering time frame on the D1 chart.
Period Separators On/Off — enable/disable the display of period separators;
Period Line/Label Color — the color of vertical lines and period labels (date/range);
Period Line Style — style of vertical lines;
Period Line Thickness — thickness of vertical lines;
Period Range Showing — show label (date) with distance (in pips) from the minimum to the maximum price for the current period.
London Session Showing — enable/disable the display of the London market session;
London Session Open Hour — London session opening time;
London Session Line Thickness — line width of the London session square;
London Session Line Style — line style of the London session square;
London Session Color — the color of the London session square.
New York Session:
New York Session Showing —enable/disable the display of the New York market session;
New York Session Open Hour — New York session opening time;
New York Session Line Thickness — line width of the New York session square;
New York Session Line Style — line style of the New York session square;
New York Session Color — the color of the New York session square.
Tokyo Session Showing — enable/disable the display of the Tokyo market session;
Tokyo Session Open Hour — Tokyo session opening time;
Tokyo Session Line Thickness — line width of the Tokyo session square;
Tokyo Session Line Style — line style of the Tokyo session square;
Tokyo Session Color — the color of the Tokyo session square.
Sydney Session Showing — enable/disable the display of the Sydney market session;
Sydney Session Open Hour — Sydney session opening time;
Sydney Session Line Thickness — line width of the Sydney session square;
Sydney Session Line Style — line style of the Sydney session square;
Sydney Session Color — the color of the Sydney session square.
H1 and lower-period charts
On the H1 chart, the indicator depicts the time range of London, Tokyo, Sydney, and New York sessions, as well as the current day of the week with the time on which the line is placed (set in the parameters). Also, it identifies the distance from the minimum to the maximum price for this period and each session.
The indicator on the M30 chart with custom parameters
In the H4 period, the indicator depicts the lines for the start of the week (the day is shown in the parameters), the number of current days or months, and the distance from the minimum to the maximum price of the current period.
The indicator on the H4 chart with default parameters
The D1 period
In the D1 period, the indicator depicts the lines of the start and the end of the month/quarter/year. Also, it represents the name of the current month and the year/quarter (depending on the input parameters), distance from the minimum to the maximum price for this month/quarter/year.
There are some technical requirements that you need for loading and correct work of the indicator:
A computer that has all the necessary conditions for the MetaTrader 5® installing;
The desktop version of MetaTrader 5® installed on your computer;
The computer working hours should match with the trading hours. The MT5® platform must be launched;
The installed tool must be configured on the MT5® chart.
If you are interested in a custom indicator, you can order it here. A ready-made form will help you not to forget important aspects of your technical specification.
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