This is probably the simplest, but maybe the most effective indicator for those traders who just want to know exactly what time or trading session it currently is. This MT4 indicator will tell you exactly what session the market is currently trading in and the time. You have multiple options to adjust and customize for what you need such as the colors, fonts, where you want information displayed and even turning certain sessions off.

You can get the Forex Time Zone Indicator from MQL5 Here. Whilst using a clock on your charts can be handy, an even easier method is using an indicator that is right on your MT4 or MT5 chart that shows you exactly what trading session it currently is. When adding this indicator to your chart you will quickly and easily be able to see the Forex sessions times for Asia, the UK, US and Europe. When added to your chart you can see what the session is and where previous sessions finished by the different color blocks.

This makes it super quick and easy to know both where you are and where price got to in a previous trading session. You can get the MT4 TMA Forex Sessions Indicator Here. This is a slightly different Forex market hours indicator than the MT4 indicator above. When added to your charts this indicator will show you the opening and closing price for the main sessions in Asia, Europe and the USA.

These different levels are highlighted with different colors on your charts. You have the ability with this indicator to customize the colors.

This indicator can help you quickly know what trading session you are in as well as where each session has traded to. You can get the Forex Market Hours for MT5 Indicator From Perfect Trend Systems Here. I research, test and trade with the latest and best brokers, signal providers and trading tools to help you find out what works best. Some traders think that day trading is difficult.

However, it is not the lack of reliable trade setups that make it difficult. What makes it more challenging is that it is not every hour of the day that a currency pair has enough volatility to make it worth trading. There are certain times of the day wherein volatility is strong and this is usually when the major market using the currency pair is open. As such, market timing is very important for day traders and a tool like the Market Hours indicator can be useful for this purpose.

Market Hours indicator is a custom technical indicator which provides traders the information regarding what market sessions are currently open based on the current time. This information is displayed directly on the MT4 platform on its own indicator window.

This indicator plots lines on its own window which has different colors. Each line color represents a market session. The Market Hours indicator has preset values which pertain to the hours in which the major markets would open and close. These markets are the London market, New York market, Sydney market, and Tokyo market. The Market Hours indicator would then plot a line which would span the market open up to the market close based on the preset values. These values however can also be modified whenever necessary.

As mentioned above, the open and close time of each market session can be modified. These modifications can be done within the indicator settings. Traders simply need to input the time each market would open and close. This feature is very important because some major markets do have changes on the open and closing time of their market sessions due to Daylight Saving Time which occurs whenever seasons change.

It is important that we constantly check if there are changes on the market time and if the open and close times of the Market Hours indicator is still in sync with the actual market session time.

This can be done using the market session time available on www. The Market Hours indicator does not provide technical indications that can be used for identifying trend direction, trend reversals, momentum, volatility, or potential mean reversals. As such, it should not be used as a means to identify a potential trade setup or trade entry.

However, there are strategies in which the information provided by this indicator is necessary. These are usually day trading strategies which hedge on the volatility that occurs for certain currencies at the open of a specific major market. The Market Hours indicator may not seem like a vital tool at first glance since it does not provided indications that pertain to technical analysis.

However, it is still a very useful tool for day traders who require market timing information for their strategies. MT4 Indicators — Download Instructions Market Hours Indicator for MT4 is a Metatrader 4 MT4 indicator and the essence of this technical indicator is to transform the accumulated history data.

Market Hours Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye. Based on this information, traders can assume further price movement and adjust their strategy accordingly.

Click here for MT4 Strategies. Click Here for Step-By-Step XM Broker Account Opening Guide. Download Now. Save my name, email, and website in this browser for the next time I comment. Sign in. your username. your password. Forgot your password? Get help. Password recovery. your email. Home Forex MT4 Indicators Market Hours Indicator for MT4. Forex MT4 Indicators. Table of Contents 1 Introduction to the Market Hours Indicator 2 What is the Market Hours Indicator? RELATED ARTICLES MORE FROM AUTHOR.

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The Forex market is considered the largest market in the world finance system. The reason for that is its daily traded volume. It is ranging in average more than three trillion dollars on a daily basis.

This market is also very competitive, therefore each trades has to take into account all the aspects to become successful. Besides the factors that are related to trading strategies , forex brokers and risk management there is another one related to Forex trading sessions and hours when they are traded.

The Forex market is open 24 hours a day and 5 days a week. It does not have any clearing periods like stocks and futures markets do. Among the market participants, there are various banks, hedge funds, different financial companies, investment management firms, and many others. These are all the Tier-1 institutions. Next ones are the retail Forex brokers or some investors that have direct access to the Forex market due to very large trading volumes.

The majority of large international banks have offices all over the world though operated under different local entities. The orders of the clients of these banks can be forwarded to the foreign exchange at any time during the hour cycle. When every Forex trading session takes place, the city with the largest financial hub in the local region is given the session title during its business hours.

When you are improving your trading skills and analyzing the best timing for entries and exits, it is obligatory to define these sessions and to learn which currencies or markets are involved in terms of highest activity and volatility during those business hours.

The main feature of the Forex market is that it is not centralized like some stock exchange and on the contrary, it represents a fairly global network of places where entities like banks and brokers can exchange one currency into another and manage their exposure.

These companies are located in different parts of the world. Though the sessions are not limited only with the mentioned above financial capitals. Minor sessions are also held in the following regions and cities:. Usually, it is easy to spot those trading sessions alternate and when one Forex session closes, another one opens.

The main idea behind the sessions is that there exist specific times that are considered more active. Further below we will expand in more detail these trading sessions and define the best times that allow exploiting the benefits of them for lucrative trading.

One of the main benefits of the Forex market is that it is available for trading 24 hours per day and five days a week, as stated above. It allows investors all over the world to trade whenever they are willing to do it during business days. Though they do not need to worry about the fact that the market might be closed, however, not all hours are considered equal to each other. It should be stated that there exist periods during the day when volatility comes into play, and on the contrary, there are also hours when the market is almost silent and moving with very low activity and in a tight range.

It is obvious that various currency pairs show different market activity over different periods of the day. People tend to trade and exchange local currencies during their local business time periods.

This makes us accept the fact that major trading sessions from the list above are strongly correlated with market hours. Despite the fact that hour opened Forex market gives a certain advantage for many traders, both individual and corporate, there still exist some pitfalls. But at the same time, it is impossible for a trader to monitor his opened positions for these or any other pairs 24 hours a day.

It means that during some Forex trading times some good entry opportunities might be missed. But the worst scenario is when some obstacles may drive the market against opened positions and the trader will not be able to stop it because he is not nearby. To reduce or sometimes even eliminate this kind of risk, a trader has to follow the risk management rules or take into account the times when the market has the highest volatility, and probably close the position beforehand or at least to close it partially.

Typically, the market is divided into three major sessions which represent the highest trading activity: the Asian, the European and American sessions. More familiar will be to split these 3 periods of market activity into Tokyo, London, and New York sessions.

These names could be interchanged due to the fact that the mentioned above cities simply represent the major financial capitals for each of the region. The basic point is that markets start being active are going into their local business hours. It is also accompanied by the fact that the majority of banks and other financial institutions start making their daily operations.

The very first session that comes into play after the start of the day is the Asian one the financial centre of which is Tokyo.

This is also the first one that opened after the weekend, therefore traders should pay attention to the market behaviour during it to overview the sentiment according to the events that occurred on Saturdays and Sundays. Trading from this side of the world in terms of volume mainly happens on the Japanese market which trading session is opened between — GMT. Despite this fact, there are some regions that also add volume. Among them is Singapore and, of course, China that is getting more and more liquid for the last decade and is really becoming a separate financial region with the centre in Shanghai.

Usually, the start of the Asian session defines the direction till the start of the London trading session. The Tokyo trading hours usually do not represent high volatility because of the lower volume in comparison to European and North American sessions that are considered the most liquid. Many traders use it in their trading strategies like mean reversion or calm scalping. This session for the majority of its length overlaps the Asian session because the action takes place in the same world region.

Though the volume is lower than on the Tokyo market, it is also taken into account because Australia is the largest supplier of gold and the Australian Dollar is considered a major pair against USD. Besides gold, there are also other commodities like copper that is traded on the Chicago Mercantile Exchange and is also affected by trading activity during this particular session.

Though being a separate continent, New Zealand is also referred to the Sydney trading session. This country with its New Zealand Dollar is considered as a strong economy with a large percentage of export activity. Right after the end of Asian and Australian sessions, the European region takes over and large volumes come in.

Last hour of the Tokyo session even overlays the start of London session so there is no drop in the trading activity. The current time zone is very populated in terms of involved countries and therefore involves a number of solid and liquid financial markets.

But still, London takes the leadership of identifying the direction for the European trading session. The business hours in London start at and last till GMT.

The current trading period is increased due to the fact that several other capital markets like France and especially Germany are opened. They are not separated from common London session though the local markets of these countries also add a lot of volume due to their strong economies.

The American session is related mostly to the region of North America and the United States particularly. This is the largest market in terms of liquidity and presence of various financial institutions like banks, hedge funds and the Federal Reserve being a Central Bank of the US. Some contribution is added from Canada and Mexico, that are also located in North America as well as some other countries in South America.

Brasil is the leading economic centre of South American region and is also a part of BRICS that is the acronym associating five major emerging national economies: Brazil, South Africa, India, China, and Russia. Though being opened during almost the whole day, the Chicago Mercantile Exchange CME , located in the United States, gains the volume growth during this trading session. Taking into account the early activity in futures and commodities trading on CME, and the concentration of some macroeconomic releases, the American trading hours start at GMT.

With a continuous gap between the close of the New York session and the start of the new day on Asians markets, the interval in terms of liquidity occurs at the close of the New York Stock Exchange NYSE at GMT, due to the fact that the North American session comes to its close. Though professional traders usually remember the starting and ending hours of every major session, less experienced trades need some help with it.

It is hard to keep in mind all the above-mentioned information therefore we have developed a Forex Hours Indicator for MetaTrader 4 terminal that will calculate the sessions automatically. There are set up Tokyo, Sydney, London and New York sessions in the form of the bars. It is easy to interpret and the key periods of market activity related to the trading hours can be displayed directly on the chart so you will never miss it.

The indicator is pretty feature-rich so you can disable some sessions if there is no need to monitor them. The colours of each block that represent the trading sessions could be adjusted for both background and the label with the session name. The fonts and their sizes could also be changed to desired so it will be possible to adopt the indicator to small and large windows of the trading terminal.

Another feature is the ability to send desktop and mobile alerts when the sessions start. It is handy because the indicator might be opened only in one tab of the terminal and the trader can occasionally miss the start of the session. Though the indicator will send an alert with the reminder right at the beginning of each session so the trader will be notified in any case.

One of the crucial benefits of the indicator is the ability to draw the starts of the session directly on the chart in the form of lines at the open price of the bar.

The open prices of the sessions usually act as support and resistance, being a really powerful tool when used in some day trading strategies or paired with some other indicators. On the chart above you can clearly see some rejections from the open session prices.

Moreover, the potential trading setups have tight and obvious places to locate stop-loss orders therefore it will be easy to fulfil the risk management rules. Talking about the risks, it is important to mention that during low liquidity, usually when an Asian session opens, and after the close of the North American session, there is a certain risk when placing trading orders.

Low liquidity might lead to higher volatility. During regular trading hours, the volatility is low and might increase only during some macroeconomic events. Among the most suitable hours for trading, there are definitely the first hours of each session.

Professional traders usually claim it the best because of market activity and momentum. When trading any asset including Forex pairs, all the traders must at the very start define which market volatility high or low will be more suitable for their trading strategies. If the investing approach is chosen then less attention is required to the trading sessions but for other trading styles from swing and below it is almost vital.

The next step is to decide what would be the best time to execute the trades. Strategies requiring more stepper movements should be applied during Asian sessions while more active ones are more suitable for European and American trading hours.

It is also important to take into account the local affiliation of the instrument. For more proficient trading the sessions monitoring should be consistent and therefore the Forex Market Hours indicator can be used. The most pleasing fact is that you can get this tool for FREE via the following link and increase your chances for lucrative trading.

Forex Market Hours. The Forex Trading Sessions. The 4 main and well-known Forex and finance in common trading sessions are as follows: New York London Tokyo Sydney Though the sessions are not limited only with the mentioned above financial capitals.

Basics of Market Hours. Tokyo Asian Trading Session. Sydney Australian Trading Session. London European Trading Session. New York American Trading Session.

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