The TimeZone Indicator For MT4



Table Of Contents:

  1. The TimeZone Indicator For MT4
  2. Settings of the TimeZone Indicator For MT4
  3. Advantages of using the TimeZone Indicator For MT4

Having an overview of the different time zones and their associated market openings and closings is imminent for successful trading. Each of these so called “sessions” has its own characteristics and tendencies that each require a different trading approach. It is of great importance that you adjust to the current market session to stay profitable and don’t take unnecessary risks.

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The TimeZone Indicator For MT4 is a great indicator to make this task as easy as it can get. The indicator shows you all the important market sessions and their current time. The indicator also uses multiple colors to visually show you if the markets in the respective region are currently open or closed.  

In this short article I will first show you the different settings of the TimeZone Indicator For MT4. Afterwards you will learn some more advantages that knowing the current market session and thus using this indicator can bring to your trading.

Settings of the TimeZone Indicator For MT4

The settings of the TimeZone Indicator For MT4 are very simple and mostly customize the appearance or the position of the indicator. With the first setting you can change the chart corner in which the indicator should display the information. You can choose between 0 (left upper corner), 1 (right upper corner), 2 (lower left corner) and 3 (lower right corner). Use whichever fits best on your chart.

In addition to changing the corner, the next two settings allow you to also change the x-axis and y-axis distance. The zero point for this calculation is always the current corner of the indicator.  

The next four settings are used to change the text appearance. You can change the size, the font style as well as the colors that are used to visualize an open or a closed market.

Advantages of using the TimeZone Indicator For MT4

The TimeZone Indicator For MT4 doesn’t have as much impact on your trading as for example a technical indicator like the MACD has, but it also shouldn’t be underestimated. The knowledge about the current market session is very important and can help you in a lot of different ways.

In addition to that, you can also see if a new market session is about to open or close. The end of a market session typically doesn’t have a lot of volatility. That is why it would probably not be a wise decision to enter short-term trades during this period. This is especially true if you are a scalp trader and thus are looking for very fast trades with minimal take profit distance. On the contrary to that, the opening of a new session typically brings a lot of volatility into the market. These periods of high volatility can be used by experienced traders but should also be traded with caution, because there can be a lot of fakeouts in this period.

Another advantage of the TimeZone Indicator For MT4 is, that it doesn’t harm you having it on your chart. As you learned above, this indicator offers full customization and thus can be moved to fit on the unused areas on your charts. This allows you to use your normal trading strategy and add the edge that the TimeZone Indicator For MT4 brings to it. This can increase your profits even more and make you a very happy trade.   

 

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