The ICT Asian range MT4 indicator plots lines on the high and low of the Asian forex trading session. ICT- Inner circle trader strategy applies different trading approach to Asian, London and US sessions. In particular, this indicator is useful for ICT Asian breakout trading strategy.
Features of ICT Asian Range MT4 Indicator
The indicator connects a dotted line on the top or high price of the Asian trading session. Similarly, it plots a line at the session’s lowest price.
Generally, ICT forex traders look for the price to consolidate and range during the Asian forex session. So, they promote range trading strategies during this session. This indicator helps forex traders to buy and sell within the range during the session.
However, during the London forex trading session the price tends to be more volatile. So, ICT traders look for price breakout from the Asian session. Once the price breaks the Asian session high or low, traders look for an entry.
During the London session, if price breaks the Asian session’s high traders should enter the markets with a buy trade. A stop loss should be below the Asian low with a profit target according to the ICT strategy. Similarly, traders should enter sell positions if the price breaks the Asian session low.
Benefits of ICT Asian Range MT4 Indicator
The indicator is simple to use and helps ICT forex traders to trade using the Asian session high and low. It is beneficial for new and advanced forex traders, however new traders should familiarize with the ICT trading techniques. This particular indicator is very suitable for breakout trading.
Furthermore, this indicator is suitable for all types of forex traders including scalpers, short and long-term traders.
Indicator Settings Description
MT4_StartTime:, MT4_EndTime: Time to start and end the Asian session.
Asian_Session_Color: Line color of session high and low.
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