i-Session Indicator

i-Session Indicator

i-Session indicator helps you to determine the price range and price action during a peculiar trading session. You can use the information to forecast and trade.

If you are trading forex for a while, you might have heard different trading sessions. You may feel confused about when the session starts and ends, and you may not be able to plot the change of sessions on the chart. Here comes the custom indicator for this purpose.

What is the i-Session indicator?
i-Session is a session separator indicator. It distinguishes Asian, European and American sessions on your chart. You can take benefit from the most volatile sessions or hours without any hassle. You can color code each trading session. Now, you know what the current trading session is.

The indicator is helpful to find the price behavior and price range during the particular session.

How to use the i-Session indicator?
The two major functions of the indicator are to determine:

Price pattern during a certain session (ranging, trending or counter-trending).
Price range of a trading session.
Once you know these two, you can use the information to forecast or trade the next leg of the price. The color of a trading session tells you the upper and lower boundaries of the price. You can either trade a bounce-back or breakout of the range.

i-Session indicator trading strategies
Let’s take a look at trading strategies based on the indicator.

Buy setup
Look for the Asian session to close and the European session to begin.
If the price breaks out of the range of Asian session on the upside, look for a buying opportunity.
Enter long position after the bullish candle closes.
Put stop-loss below the recent price consolidation.
Take profit should be 1.5 times the stop-loss.
Refrain from trading if the trading session has a spread of 50 pips or more.

Sell setup
Look for the Asian session to close and the European session to begin.
If the price breaks out of the range of Asian session on the downside, look for a selling opportunity.
Enter short position after the bearish candle closes.
Put stop-loss above the recent price consolidation.
Take profit should be 1.5 times the stop-loss.
Refrain from trading if the trading session has a spread of 50 pips or more.
Conclusion for i-Session indicator
Although the indicator has many benefits, you have to cautiously apply I in your live trading. Always apply the strategy on the demo account or backtest the data before implementing it in your real trading.