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Murrey Math Indicator
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Time Zone

The Time Zone indicator for MT5 displays trading sessions of different time zones. This MT5 indicator is a helpful and user-friendly tool that helps traders make better decisions when trading the Forex markets.

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Description

The Time Zone indicator for MT5 is a custom Forex tool that displays the local time zone for different trading sessions. It helps traders to keep a tab on different trading sessions in the Forex market.

The indicator is chart-friendly and easy for beginners to decipher, which makes it a suitable supporting tool for making informed trading decisions. It is recommended for different trading styles like scalping, day/intraday, and swing.

Features of the Time Zone Indicator for MT5

The indicator displays time zones for the Sydney, Tokyo, London, and New York trading sessions. The current trading session is highlighted in red, while past sessions are in blue.

Furthermore, the indicator uses the default Greenwich Mean Time (GMT) time zone to display the trading sessions on the chart. Hence, traders can adjust the indicator’s time zone from the setting tab to suit their local time.

Benefits of Using the Indicator

  • Real-Time Updates: The indicator enhances trading efficiency by displaying the current trading sessions. It helps traders to anticipate the volatility and liquidity of different trading sessions.
  • Better Timing for Trades: The indicator helps traders to time their trades in line with different trading sessions.

Indicator Settings Description

The indicator comes with the following customizable settings:

Corner: Determines the indicator’s corner location on the chart.

xdis: Determines the indicator’s location at the horizontal axis of the chart.

ydis: Determines the indicator’s location at the vertical axis of the chart.

Fonts: Defines the font type to display the time zone.

FontSize: Determines the size of the fonts.

FontColor: Determines the font color to display the time zones.

FontColorMarketOpen: Defines the font color to display market open.

Timezone: This parameter is used to set the time zone in GMT.

Back: This parameter doesn’t have a significant impact.

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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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Enhance trade precision with the MT4 Time indicator, offering information on local and server time. It is ideal for news traders because it optimizes market entry timing and helps technical traders in strategic decision-making. Note: This tool doesn't provide traders with buy/sell signals but focuses on precise trade timing.