Custom Time Zone Indicator

Custom Time Zone Indicator
Custom Time Zone indicator for MT4 plots different trading sessions based on time zones and helps traders to trade accordingly.

The custom time zone indicator for MT4 marks a particular time zone in a given color. The forex market session is widely classified as Asian, European, and U.S trading session. The trading sessions are based on the time zones of the corresponding markets and have their independent characteristics.

Currency pairs tend to behave differently during the trading sessions in these time zones. A currency pair that behaves bullish in a time zone may become bearish in the other time zone. Moreover, traders must note that the market volatility varies in different sessions. The custom time zone indicator for MT4 helps the forex traders to identify the various time zones and BUY or SELL accordingly.

The indicator works well for new and advanced forex traders. New forex traders can quickly adapt to the various market volatility levels and prepare for the same. Economic news releases are another critical factor of fundamental analysis and affect the sentiment of the market participants. On the other hand, advanced forex traders can use the indicator to formulate complex trading strategies based on fundamental analysis.

Custom Time Zone Indicator For MT4 Trading Setup

The above GBPUSD H1 candlestick price charts show the custom time zone indicator for MT4 in action. The indicator plots a maximum of two time zones on the price chart. Traders can choose the beginning and end times of the desired time zone, and the indicator will mark them with separate colors. The indicator plots the first time zone in Dark Blue and the second time zone as Indigo.

The indicator does not provide trading signals to the traders. However, the indicator helps the traders be alert and manage their existing positions based on the upcoming trading session of the time zone. Generally, technical forex traders during the Asian trading session formulate and apply low volatile trading strategies.

On the other hand, traders may prepare for aggressive trading strategies during the U.S session. Moreover, the overlapping of two market sessions provides an exciting trading session. So, forex traders should choose trading strategies based on the time zone using this indicator.

Many traders specialize in a particular trading session by studying and understanding them. By sticking to a specific trading session, traders get better during the long run and trade successfully.

Conclusion
The custom time zone indicator for MT4 mainly helps the fundamental traders. At the same time, technical forex traders can use the indicator to manage their existing trades and shift trading strategies between low and high volatile trading sessions of the time zones. Additionally, forex traders can download the indicator for free and install it easily.