Market Sessions Custom Indicator
for MetaTrader 5^®

The Idea Behind the Indicator

This indicator is for the market session designation on the chart. It draws multicolored rectangles for each market session. You can fill in each rectangle with any color you want.

There are several market sessions:

• London session
• New York session
• Tokyo session
• Sydney session

What Does the Indicator Include?

There are special period separators on 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

Indicator Parameters

Day Trading:

• Adjust for DST automatically — detects daylight saving time and automatically draws sessions based on it.
• Show Session Range — turns 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 the start hour.
• Start From Minute — draws vertical lines to determine the start minute.
• H4 Chart — allows choosing from which day to draw the week on the H4 chart.
• Daily Chart — allows selecting the rendering timeframe on the D1 chart.

Period Separators:

• Period Separators On/Off — enables/disables 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 — shows label (date) with distance (in pips) from the minimum to the maximum price for the current period.

London Session:

• London Session Showing — enables/disables the display of the London market session.
• London Session Open Hour — the 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 — enables/disables the display of the New York market session.
• New York Session Open Hour — the New York session opening time.
• New York Session Line Thickness — the New York session square line width.
• New York Session Line Style — the New York session square line style.
• New York Session Color — the New York session square color.

Tokyo Session:

• Tokyo Session Showing — enables/disables the display of the Tokyo market session.
• Tokyo Session Open Hour — the Tokyo session opening time.
• Tokyo Session Line Thickness — the Tokyo session square line width.
• Tokyo Session Line Style — the Tokyo session square line style.
• Tokyo Session Color — the Tokyo session square color.

Sydney Session:

• Sydney Session Showing — enables/disables the display of the Sydney market session.
• Sydney Session Open Hour — the Sydney session opening time.
• Sydney Session Line Thickness — the Sydney session square line width.
• Sydney Session Line Style — the Sydney session square line style.
• Sydney Session Color — the Sydney session square color.

How the Indicator Works on Various Charts

H1 and Lower-Period Charts

On the H1 chart, the indicator depicts the time range of London, Tokyo, Sydney, and New York sessions. Also, it displays the current day of the week with the time on which the line is placed (set in the parameters).
 

Moreover, Market Sessions 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

H4 Period

In the H4 period, the indicator depicts :

• Lines for the start of the week (the day is shown in the parameters)
• Number of current days or months
• Distance from the minimum to the maximum price of the current period

The Indicator on the H4 Chart with Default Parameters

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), the distance from the minimum to the maximum price for this month/quarter/year.

Technical Requirements

There are some technical requirements for loading and correct work of the indicator:

• A computer with all the necessary conditions for the MetaTrader 5® installment.
• The desktop version of MetaTrader 5® installed on your computer.
• The computer working hours should match the trading hours. The MT5® platform must be launched.
• The installed tool must be configured on the MT5® chart.