Trading session indicators for MT4 in trading is one of the most important parameters. Each time period has its own characteristics, characteristics, market liquidity and volatility. The future profitability or loss for a currency speculator depends on all these parameters. Therefore, traders and experts have specially developed tools for certain market phases and trading sessions.
Types and operation of trading sessions
When making money in the financial markets, as in any other business, it is imperative to take into account a variety of external factors in order to understand how to trade on Forex correctly. The trader devotes the most time to developing and testing the trading method with which he plans to earn in the future. In his strategy, he takes into account a variety of parameters ranging from market phases (consolidation, trend, accumulation, impulsemovement, flat) and ending with the time period for which its methodology is created.
All traders know that depending on the market condition, a certain strategy is chosen, which necessarily takes into account what trading session the market is currently in. The largest movement, according to traders, occurs during the London and American sessions.
Opening hours of trading sessions (Moscow time +3 GTM):
- Asia - from 03:00 – 11:00.
- Europe - from 09:00 – 17:00.
- America - from 16:00 - 24:00.
- Oceania - from 01:00 - 09:00.
This is a winter time schedule, for the summer period you need to add plus 1 hour. As you can see from the Forex schedule, there are 4 trading sessions.
Features of trading periods
The beginning of each trading day in the financial market is the Asian session. It is she who opens the auction. Asia is characterized by low volatility and the market is at this time in a calm state. There are never strong impulses or big trends during the Asian session. During this period of time, the movement of many currencies is quite predictable, they are traded in a sideways range, thus forming a flat.
Europe and America are the main drivers of the market. It is during the European session that there is a strong movement and big trends, which often turn into a long-term perspective. If the trader has determined the correct direction of quotes, then he can get the maximum daily profit (for the short term) and a further increase in profit inlong term.
The trading day ends with the Ocean session, which is also characterized by low volatility and predictability of market movements.
Trading session indicators
Quite often, traders become so addicted to trading that they forget to control their sessions. In trading, the opening and closing of a particular period is a very important parameter, since many methods are calculated for certain market phases. Experts, developers or simply experienced traders create tools specifically to help you remember trading sessions. This means opening or fixing positions on time.
Most often created trading session indicators for MT4, as MetaTrader is one of the most popular trading platforms. They may look different:
- as a table directly on the chart;
- as period separator (vertical lines);
- like certain rectangular or square areas and other options.
Such indicators can be displayed not only on the chart, but also in a separate window at the bottom of the trading platform. Below in the article there will be a list of the most popular trading session indicators for traders for MT4.
List of instruments:
- Indicator Avto Sessions - displayed on the chart in the form of rectangular multi-colored areas, at the top of which is indicated the number of points passed by the price during the session.
- The Forex Sessions indicator is located below the chart in a separate window and is represented as dotted multi-colored lines, where each color reflects a specific trading period.
- The i-Sessions indicator is located directly on the trading chart and highlights the time of sessions with multi-colored rectangles or squares.
- JF Tradinkg Times indicator - this tool separates the beginning and end of each trading session with vertical lines.
- Indicator Market Time Indicator - its location on the chart in a separate information window. It is very convenient, takes up almost no space, and can be displayed in different colors that the trader likes.
All these trading session indicators for MT4 do not require any special settings. The only thing that can be changed, at the discretion of the trader, is the display color or the time zone if it does not match.
Description of the trading platform "MetaTrader"
One of the most popular trading platforms for trading among traders and investors is MetaTrader. There are 2 versions of this platform: MetaTrader4 and MetaTrader5. They are practically the same, but in the second version, the developers added additional tools: Depth of Market, an increased number of timeframes, and other parameters.
The trading platform is divided into several areas, each of which performs a specific function. Displayed at the top:
In the "file" section, you can select functions such as creating a new chart, accessing the data directory, connecting to a new trading account. The "view" section displays a toolbar:
- data window;
- strategy tester and more.
In the "insert" section, you can find various graphical tools, such as:
- text label and other tools.
All of them are required in the graphical analysis of the market movement. A little lower is the quick access panel, which the user can customize himself. Here you can find a wide variety of trading tools, namely technical "beacons". By the way, after installing the aforementioned indicator of trading sessions for MT4 on the platform, it will be displayed here.
And here you can also select the timeframe, chart type (candlesticks, bars or line), enlarge or reduce the chart, crosshair tool and other necessary functions. And even lower is the chart itself. Under it, indicator windows selected by the trader can be displayed, as well as information about the state of the trading account (balance, profit / loss, margin).
According to traders, "MetaTrader" is a very convenient trading platform forForex. Its advantages include the following characteristics:
- free site;
- presence of a large number of tools;
- unlimited validity;
- opportunity to trade in demo mode;
- convenient platform for predicting market movement;
- the ability to simultaneously open several charts of different trading assets at once;
- suitable for automated trading and signal usage and more.
And it is also worth noting that every year the developers improve its quality.
This trading platform offers great prospects for traders. They can engage in an analytical forecast of the market movement in order to understand in which direction quotes will move, test new trading strategies, indicators and improve the performance of existing ones in the strategy tester.
Beginners can start trading on Forex for free, without any financial risks. In addition, there are versions of mobile trading. You can also use robots on the platform. And then trading will take place in a passive mode, without the intervention of a trader, which is very convenient.
Example of trading on MT4
The MetaTrader 4 trading platform is so simple that it does not cause any difficulties even for beginners. Therefore, it is often recommended to inexperienced users. After all, they do not have questions about how to trade on the MT4 platform. Primarily,you need to select an asset, this can be done in the "market overview" section. Open a chart of the selected currency pair and carry out, with the help of indicators and graphical constructions, a forecast of the market movement.
Then you need to go to the "+" tab and open a new order with the selected parameters. There it is necessary to specify the size of the lot volume and direction. If desired, you can immediately set "Take Profit" and "Stop Loss" or do it later.
The MetaTrader trading platform is the most popular trading platform for traders of all levels. However, it is worth remembering that the platform is only a tool that allows you to earn money in the financial market. Therefore, first of all, it is necessary to learn how to predict and use the appropriate skills and knowledge for this.