Order Flow Trading Ebook Trade Navigator For Mac
129 Shares The indicator that I want to show you in this tutorial is absolutely, hands down, the best trading session indicator for MetaTrader 4 (MT4). I use this indicator every day, and I cannot go back to trading without it. Some of you may have heard of the indicator before, but in this tutorial, I’m going to show you how to get all the information you need from this useful indicator while keeping your charts as clean as possible. This is how I use i-Sessions, and after seeing this, you’ll probably wonder how you traded without it as well. Of course, this indicator is only really useful if you trade on time frames lower than the 4 Hour. I use it on the 15 Minute and 1 Hour charts, and it has become a very useful part of my trading routine. The Best Trading Session Indicator for MetaTrader 4 (MT4) Which trading session(s) should you trade in the Forex market?
Depending on your, you could trade in any session; however, most traders will find the London and New York sessions to be preferable. The Asian session can be very difficult to make money in. There are many reasons for this, which I will discuss in a future article. Keep in mind that I’m dividing the market into just three sessions, i.e., the Asian, London, and New York sessions, although the market could be divided into many more sessions. Most traders lump all the trading sessions into these three. The session times that most traders actually care about are the London open/close and the New York open/close.
That’s where the i-Sessions indicator comes in handy. You can easily see when the important sessions start and end – without cluttering your chart. In the image above, you can see the i-Sessions trading session indicator for MetaTrader 4 (MT4) in action. Being able to determine what trading session you are in at a glance can be very useful to you if you’re an intra-day trader. This information is even more useful when you’re a new because you don’t have to count candles/bars to determine what session a setup occurred in.
Note: As you can see, I’ve got my period separators visible as well ( Ctrl+Y). I like to use them when I’m daytrading, but they aren’t necessary as long as you have your session boxes set correctly. Normally this indicator shows three colored, overlapping boxes that highlight the three major trading sessions. However, I’ve configured it to include the Sydney open in the “Asian” session box, eliminated the London session box altogether, and shortened the New York session box to highlight the New York open and the London close.
Order Flow Trading Ebook Trade Navigator For Mac 2017
For reference, this image shows the June 22nd, 2016, EURUSD, 15 Minute chart (New York close). The image above is a zoomed-in version of the first image. If you study this image, you can see that the “Asian” open is easy to find with just the period separator in place. However, the end of the first session box shows us the London open. Note: The Asian close is not highlighted, but for most traders, this is not important information, because the end of the Asian session overlaps the beginning of the London session. What’s important to most traders is the London open. Next, you can see the New York open.
I’ve shortened the New York session box to highlight the “power hours” when the London and New York sessions overlap. By default, this also shows the close of the London session. The close of the New York session happens at the close of the last candle/bar before the period separator. As you can see, from the images above, this indicator is great for visually representing the important session opens and closes. That’s why I believe i-Sessions, especially if used that way I showed you in this tutorial, is the best trading session indicator for MetaTrader 4 (MT4). The image above shows the settings that I use. I’ve edited the indicator to use my settings as the default settings, so if you’re a U.S.
Trader, or you otherwise use New York close charts, and you’d like your charts to look like mine, you shouldn’t have to change anything. Of course, you can also change the settings to anything that you’d like. Note: If my default settings don’t automatically work on your charts, you can use a Forex trading session tool, like, to adjust the indicator times.
You can also use the chart image above as a reference. Installation Instructions:. Download and extract the custom indicator. Place it in your “Indicators” folder ( File Open Data Folder MQL4 Indicators).
Restart MT4. Open your “Navigator” window, if it’s not already open ( Ctrl+N). Drag the i-Sessions indicator onto your chart.
Adjust the settings and colors, if needed, and hit the “OK” button. There are many trading session indicators available, but most of them leave your charts looking much more cluttered then they need to be. The i-Sessions indicator is simple and clean, especially if you use it like I do, which is why I believe it’s the best trading session indicator for MetaTrader 4 (MT4). What do you think? Is this your favorite trading session indicator? Leave a comment below.
Hello K Patel, I recommend using NY close charts for your trading decisions regardless of where you live, because if you don’t an extra candlestick is added each week which throws off candlestick and other technical patterns and indicators. But that’s a separate subject. I’m not sure why the indicator is not lining up with your MT4 times because I only deal with NY close charts. That being said, you can enter any time you want. Just keep trying different inputs until you highlight the sessions you wish to. Thanks for the comment. I didn’t code this indicator.
I just shared it. I think I know what you’re trying to do. The problem is that you can’t go back farther than the beginning of the day or forward past the end of the day. The indicator needs a time shift to be able to display what you want it to display.
Edit: Scratch what I said before, James. I found the indicator for you. It has more features, including a time shift.
You should be able to do exactly what you’re trying to do with this one. Attention: The regular i-Sessions indicator will work fine for most traders. I couldn’t find the original.mq4 file – only the.ex4, so I couldn’t edit the code to make the display look like it does in the article. Therefore, if you don’t need to use the time shift feature like James does, it’s best to download the original indicator above. Hello Alfred, Thanks for the comment.
I only trade during the London or New York sessions. The banks typically use the Asian session as an accumulation period, so the price is choppy with no real trend or significant reversals. That’s not always the case, but more often then not it is. Also, at we take setups based on predetermined significant levels, and there are certain rules (which I can’t talk about here) regarding taking a trade at a level that was broken during “no trade” hours.
It’s just nice to be able to quickly see on the chart exactly where these tradable and “no trade” hours are. Similarly there is an hour and a half “no trade” period when the market lulls before the NY open. It’s very convenient to have the NY session clearly marked on the chart, especially if you weren’t around when the initial setup happened. You don’t have to count back or anything. Just take a quick glance at the chart. This indicator is also really useful for because you can see which trading session you’re in at a glance while working back through historic price action.
The default “lookback” period is 50 days. You can increase that to go further back.
Order Flow Trading Ebook Trade Navigator For Mac Free
Help Me Choose My Futures Trading Software Below is a list of some of the online futures trading software/platforms we offer. Browse through and see which may be best suited to your needs.
Order Flow Trading Ebook Trade Navigator For Mac
If you would like a custom online futures trading software/platform recommendation, use the Platform Finder tool above.