The 4 Sessions Indicator For MT4
The 4 Sessions Indicator For MT4 is a uniquely built meta trader 4 trading tool that shows exactly how each trading markets and or session across the world starts and ends, including a visual representation of different segments for the different markets, a visual representation of when the individual markets overlap and unique colors to help the trader learn to identify them without thinking about it.
Some advantages of using the 4 Sessions Indicator For MT4
Using the 4 Sessions Indicator For MT4 can help the trader to derive so many benefits while trading. One of these benefits or advantages of using this indicator is its simplicity and reliability. Not many simple indicators are reliable and most reliable indicators are in fact, not simple. The 4 Sessions Indicator For MT4 commands both qualities especially with the remarkable ease with which it works for the trader to show the exact openings of the market and some markets overlap when one new market opens while another is still trading.
It color codes all of this information and still leaves the trading charts neat enough for the trader to be able to still work out his kind or style of technical analysis on the charting platform. This keeps the traders charting screen free from the clutter that usually comes with most of the other indicators that try to perform this same function.
As soon as each new market is starting, the trader can trust that there will literally be no lag between the market opening and the time it takes to display the information by the 4 Sessions Indicator For MT4.
This is very important since a lot of trading styles at their core rely on the opening times of markets to effectively execute functions like opening trades and closing trades.
One of such trading styles would be the popular New York reversal commonly known by a lot of traders which works by waiting for the New York session to open and then taking a reversal trade of the trend in the previous session using some tool or pattern. These kind of sessions are very volatile and traders are usually happy to have the markets moving at full pace after the dull Asian markets and the mostly sometimes slow London period
This could also be as a result of the overlaps by both the London Market and the New York market within this period leading to a very high level of volatility across any pair that is related to either of the London or the New York markets at the time when both of these markets are overlapping. This volatility in price action then tends to drop when one of the markets closes.
The 4 Sessions Indicator For MT4 also helps the trader to identify exactly when any of the markets closes so that the trader can avoid a drop in volatility if this is a part of their trading styles. These session starts and closes are color-coded by the 4 Sessions Indicator For MT4 as follows: The Asian session is colored Aqua color, the London session is colored DarkKhaki, the New York session is colored Light Salmon while the Pacific is then colored Light Steel Blue.
Once a trader has used the indicator for a couple of hours, it becomes incredibly easy for the traders to be able to tell the sessions apart from each other, identify exactly which session is currently on and which overlaps have occurred and will occur.
This makes the 4 Sessions Indicator For MT4 very easy to use especially if the trader can take out the little time to open the chats and see what color represents which session. A trader might also decide to re-color code the sessions with their own specific favorite colors which would then also make it easy for the trader to quickly become accustomed to using the indicator during their trading day.
Scalpers can utilize the 4 Sessions Indicator For MT4 in determining the trending periods in the markets based on when two different sessions are overlapping since scalping cannot be done in markets that are unwilling to move as the scalper just wants a few quick profits and might most likely be uninterested in spending an extended period of time in the markets.
Another good thing about the 4 Sessions Indicator For MT4 is that at one glance, traders are generally able to identify exactly how volatile price action was in the previous trading session. This information should then help the trader in adjusting and streamlining their expectations immediately, with the understanding that once a particular market sets out in a certain way, it usually sets the tone for the rest of the trading day and so it would benefit traders to be very conscious of it.
he 4 Sessions Indicator For MT4 can be applied to any time frame below the 1 Hour charting time frame and the reason for this is because the indicator wouldn't display properly if it is placed on much higher timeframes. Generally, I believe the indicator was built to support lower timeframe traders who need such tiny details of price moe=vement for analysis as bigger timeframe traders like swing and position size traders ever rarely consider what price has been doing in each individual session before taking trades or exiting trades.
A trader can also choose to combine the 4 Sessions Indicator For MT4 with any of the lower timeframe strategies and use them for trading as the 4 Sessions Indicator For MT4 does not just complement other strategies, it refines them so the trader then takes only the best trades during the best time periods possible to be scalping or trading the lower timeframes. The 4 Sessions Indicator For MT4 is also stable on the meta trader 4 charts and does not lag the chart, except if the computer is very old and probably shouldn't be used for trading.
Lastly, when combining the 4 Sessions Indicator For MT4 with other lower timeframe strategies, a trader must exercise caution and practice a very strict money management strategy since the lower timeframes are usually full of false moves and price manipulations if the trader wishes to survive without losing his or her account in the shortest time possible.4 Sessions Indicator For MT4