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Sessions

Do you trade different forex market sessions? Sessions MT4 Indicator plots Asia, Europe and USA market sessions with different background color. Back test and identify suitable forex trading strategies to maximize profits from a trading session.

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Description

The Sessions MT4 indicator clearly marks the beginning and end of major market sessions with different background color. Every market session has different characteristics. So, this indicator helps the forex traders to apply different trading strategies during the sessions.

Features of Sessions MT4 Indicator

The indicator draws rectangles with different background colors. However, the overlapping of the sessions does not have any background color. By default, the Asia session begins at 01:00 hours and ends at 09:00 hours and has a beige background. Similarly, the Europe session starts from 09:00 hours and ends at 18:00 hours with a misty rose color. Furthermore, USA session is from 15:00 hours till 23:00 hours.

Traders can change the market session timings in the input settings according to their GMT offset of the broker time. This ensures that the trader is in line with the right market session timings.

Benefits of Sessions MT4 Indicator

Major markets like the Asia, Europe and US have their own distinctive features based on the economies operating during that time. Local stock markets and economic news releases, Government and political leaders affect the market at large.

Generally, Asia session is calm and trendy in nature. However, volatility increases as we move into the European session. Normally, US session has the highest price volatility and movements. So it is obvious to forex traders to apply different trading strategies that excel in different market conditions.

This sessions indicator helps forex traders to back test price movements during the past sessions. Since each session has different colors, forex technical traders can easily understand the price movements and validate and apply the trading strategies that work accordingly.

Indicator Settings Description

NumberOfDays: Maximum number of days to display the sessions.

AsiaBegin:, AsiaEnd:, AsiaColor:, EurBegin: EurEnd:, EurColor:, USABegin:, USAEnd:, USAColor: Session open and end time and background color.

ShowPrice:, ciFont:, SizeFont:, Offset: Price display parameters.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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