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Trading Sessions

The Trading Sessions indicator for MT5 displays major trading sessions in the Forex market. With this powerful indicator, traders can easily and quickly identify the best times to enter and exit the markets, helping them maximize their trading profits.

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Description

The Trading Sessions indicator for MT5 is a technical analysis tool developed by FXSSI to display the major trading sessions in the financial market. This indicator provides information on the opening and closing times of different trading sessions, thereby enhancing better trading decisions.

Features of the Trading Sessions Indicator

The indicator is a beginner-friendly tool that displays the London, New York, Tokyo, and Sydney trading sessions on the MetaTrader 5 (MT5) chart. It shows the current trading sessions using a box, while the future trading sessions are highlighted with a vertical line.

Moreover, the indicator’s parameters are customizable, allowing traders to enable or disable preferred trading sessions. Besides, the indicator automatically detects suitable time zones based on traders’ local time.

Benefits of Using the Indicator

  • Enhances Market Analysis: The indicator helps traders understand the session currency pairs tend to trend or range, enabling objective trading decisions.
  • Identification of Market Patterns: The indicator helps traders to identify and make trading decisions based on market behaviors (e.g., price reversal during session overlap, etc.) that are peculiar to a trading session.

Indicator Settings Description

The indicator comes with the following customizable settings:

Tokyo: Enables/Disables the display of the Tokyo trading session.

Tokyo Time: Sets the Tokyo trading time.

London: Enables/Disables the display of the London trading session.

London Time: Sets the London trading time.

New York: Enables/Disables the display of the New York trading session.

New York Time: Sets the New York trading time.

Sydney: Enables/Disables the display of the Sydney trading session.

Sydney Time: Sets the Sydney trading time.

Short Name Length: Determines the number of letters to display trading sessions.

Server Time Offset: Defines the server time to display trading sessions.

Fill Sessions background: Enables/Disables color fill for the background.

Past sessions to show: Determines the number of past sessions to display.

Future sessions to show: Determines the number of future sessions to be displayed.

Show Till Timeframe: Determines the time frame to show the trading sessions.

Color shame: Determines the color to display trading sessions.

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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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