4 Trading Sessions Forex Breakout Indicator For Metatrader 4
The 4 trading sessions breakout MT4 Forex indicator displays the 4 main trading sessions on the chart.
The 4 main trading sessions are: London, New York, Tokyo and Sydney.
It displays the 4 trading sessions in different colors and in an easy to read box format.
You can change the box colors, style and many more to suit your preferences.
Tip: The high and low session prices can be used to trade powerful session breakouts.
For instance, when the overall currency pair trend is upward, you could open a buy trade when price exceeds the previous session high price.
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4 Trading Sessions Forex Breakout Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With 4 Trading Sessions Forex Breakout Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open buy trade when the overall trend is up and price closes above the previous session high price.
Place stop loss 2-3 pips below support, or use your own stop loss placement method.
Close the breakout buy trade a fixed take profit target, for example, 25 pips on the 5-minute trading chart, or use your own favorite take profit method.
Sell Trigger: Open sell trade when the overall trend is down and price closes below the previous session low price.
Place stop loss 2-3 pips above resistance, or use your own stop loss placement method.
Close the breakout sell trade a fixed take profit target, for example, 50 pips on the 1-hour trading chart, or use your own favorite take profit method.
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Session colors, show range, show pips, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trading sessions
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.