Understanding the different Forex market hours is crucial to your trading. The Forex market is open 24 hour a day, but only certain regions and countries are open and trading at one time. In this post we look at the different Forex market hours and how you can use an indicator directly on your MT4 and MT5 charts to quickly see what trading session it currently is. Forex markets are open and available to trade 24 hours a day and 5 days a week.
However; only certain regions and countries are open at a set time and trading. This is obviously very important. Some trading sessions have very different characteristics to others. For example; the US and UK trading sessions will tend to move a lot more with a lot more volatility to the Asian sessions.
This can affect different trading strategies dramatically and it is critical for you to test in your trading. One of the easiest ways to see if the Forex markets are open, what trading session it is or when the markets close is to use a simple market clock. One of the simplest and also best Forex hour clocks if at Forex 4 Noobs. This clock will show you if the market is open, what trading session it is, when the next session opens and when the markets close.
This is probably the simplest, but maybe the most effective indicator for those traders who just want to know exactly what time or trading session it currently is. This MT4 indicator will tell you exactly what session the market is currently trading in and the time.
Make up to 6, pips per year! Best forex indicator with exact entry price, Stop-Loss and Take-Profit levels. Our reliable Forex system aims to produce consistently strong signals. Automatic detection with precise signal specifications. There is zero guess work. Quick installation. Easy to follow and trade! Pivot Point Extra indicator. Our Pivot Point indicator is based on advanced algorithm of calculating the pivot point and support and resistance levels. Get amazingly accurate prediction of important price levels and future market reversals thanks to our Pivot Point Extra Indicator!
Economic News indicator. The calendar shows the times of announcement of important economic events - which often have a significant effect on the future price movement of each market. But the problem is that each trader watches the economic calendar only on websites in their browsers. That's why we've decided to create an indicator that will display all relevant economic events right in your MetaTrader 4 trading platform.
Spread indicator. Our Spread indicator is a professional and highly useful MT4 tool for measuring spreads, spotting spread widening of low-quality brokers and measuring your real spread trading costs. The spread indicator is easy to use, highly effective and of course, for free! CCI indicator. We have also enhanced the way how the CCI indicator is drawing - now you can easily spot trading signals right in your chart.
With this CCI indicator, you will be able to spot and trade strong trends and make maximum out of them.
There lots of materials so whole kit is divided into: -Indicator Groups - under own spoiler each; -useful links from installation guides to economical calendars, forex sessions and etc. Price Action Indicators; 3. Time Indicators bar close, sessions, time zones and etc. Indicators For Games 6.
Indicator For Pro Trader; 7. Different Infopanels; 8. Order Information Indicators 9. Account Information Indicators News Indicators: Part 1, Part 2; Profit Indicators; Just Indicators Of Different Purposes; Lot Calculation Indicators; Indicators With Alerts; Currency Strength Indicators; Spread And Swap Indicators; Tick Indicators.
Technical Information. This Kit is an extremely useful tool, unique and helpful, you wont find so much material in one place. So use it wisely and may the Force be with you! Good luck! Candlestick - CPIv1. Auto Sessions v1. Account Equity Analyzer v2. Account Equity Analyzer v4. Accountinfo v1. DrawProfit v3. The advantage of this combination is that it will react more quickly to changes in price trends than the previous pair. Many investors will proclaim a particular combination to be the best, but the reality is, there is no "best" moving average combination.
In the end, forex traders will benefit most by deciding what combination or combinations fits best with their time frames. From there, the trend—as shown by these indicators—should be used to tell traders if they should trade long or trade short; it should not be relied on to time entries and exits. Now we have a trend-following tool to tell us whether the major trend of a given currency pair is up or down. But how reliable is that indicator?
As mentioned earlier, trend-following tools are prone to being whipsawed. So it would be nice to have a way to gauge whether the current trend-following indicator is correct or not. For this, we will employ a trend-confirmation tool. Much like a trend-following tool, a trend-confirmation tool may or may not be intended to generate specific buy and sell signals.
Instead, we are looking to see if the trend-following tool and the trend-confirmation tool agree. In essence, if both the trend-following tool and the trend-confirmation tool are bullish , then a trader can more confidently consider taking a long trade in the currency pair in question.
Likewise, if both are bearish , then the trader can focus on finding an opportunity to sell short the pair in question. One of the most popular—and useful—trend confirmation tools is known as the moving average convergence divergence MACD. This indicator first measures the difference between two exponentially smoothed moving averages. This difference is then smoothed and compared to a moving average of its own. When the current smoothed average is above its own moving average, then the histogram at the bottom of the chart below is positive and an uptrend is confirmed.
On the flip side, when the current smoothed average is below its moving average, then the histogram at the bottom of the figure below is negative and a downtrend is confirmed. In essence, when the trend-following moving average combination is bearish short-term average below long-term average and the MACD histogram is negative, then we have a confirmed downtrend.
When both are positive, then we have a confirmed uptrend. At the bottom of the chart below, we see another trend-confirmation tool that might be considered in addition to or in place of MACD. It is the rate of change indicator ROC. As displayed in the chart below, the orange-colored line measures today's closing price divided by the closing price 28 trading days ago.
Readings above 1. The blue line represents a day moving average of the daily ROC readings. Here, if the red line is above the blue line, then the ROC is confirming an uptrend. If the red line is below the blue line, then we have a confirmed downtrend. A bearish configuration for the ROC indicator red line below blue :. After opting to follow the direction of the major trend, a trader must decide whether they are more comfortable jumping in as soon as a clear trend is established or after a pullback occurs.
In other words, if the trend is determined to be bullish, the choice becomes whether to buy into strength or buy into weakness. If you decide to get in as quickly as possible, you can consider entering a trade as soon as an uptrend or downtrend is confirmed. On the other hand, you could wait for a pullback within the larger overall primary trend in the hope that this offers a lower risk opportunity.
There are many indicators that can fit this bill. However, one that is useful from a trading standpoint is the three-day relative strength index , or three-day RSI for short. This indicator calculates the cumulative sum of up days and down days over the window period and calculates a value that can range from zero to If all of the price action is to the upside, the indicator will approach ; if all of the price action is to the downside, then the indicator will approach zero.
A reading of 50 is considered neutral. Generally speaking, a trader looking to enter on pullbacks would consider going long if the day moving average is above the day and the three-day RSI drops below a certain trigger level, such as 20, which would indicate an oversold position. Conversely, the trader might consider entering a short position if the day is below the day and the three-day RSI rises above a certain level, such as 80, which would indicate an overbought position.
Different traders may prefer using different trigger levels. The last type of indicator that a forex trader needs is something to help determine when to take a profit on a winning trade. Here, too, there are many choices available. In fact, the three-day RSI can also fit into this category. In other words, a trader holding a long position might consider taking some profits if the three-day RSI rises to a high level of 80 or more.
Conversely, a trader holding a short position might consider taking some profit if the three-day RSI declines to a low level, such as 20 or less. Another useful profit-taking tool is a popular indicator known as Bollinger Bands. This tool takes the standard deviation of price-data changes over a period, and then adds and subtracts it from the average closing price over that same time frame, to create trading "bands.
A trader holding a long position might consider taking some profits if the price reaches the upper band, and a trader holding a short position might consider taking some profits if the price reaches the lower band.
Make The Most Of Today's Market Action. Trading is Risky. MetaTrader 4 indicators are technical analysis tools that can help to identify market trends and give you an indication about future price movements. While. Trading Session Time for MetaTrader (MT4/MT5) is an easy-to-use indicator to mark up any trading sessions or other time periods directly on the chart.