Trading Sessions Open Close Indicator MT5 can be handy for those who want to know what trading session they are in without looking at the clock or market hours watch. In forex trading business, trading sessions can play a vital role because it affects market volatility and trend. Traders love to trade when London and New York session overlap each other because during these sessions major banks and financial institutions are open. You can expect nice volatility in these two market sessions. Volatility is an opportunity for the traders like us.
Trading Sessions Open Close Indicator Overview
When you install this forex trading indicator in your MetaTrader 5, your chart should look like this:
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Trading Session Open Close Indicator Anatomy
Different market hours are indicated by different color rectangles. Orange color indicates Asian session, blue color indicates European session, and green color indicates American session. You are free to change the color of the indicator. You can change the color of the boxes by pressing Ctrl + I and going into the properties of Trading Session Open Close indicator.
To be honest, I always had been looking for such forex indicator. Simple and clean graphics of the indicator are the some of the reasons why I love this indicator so much. I hope traders will find it very helpful to combine trend following indicators/systems and this indicator to time their trades perfectly.