ForexSession
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This script is designed to help traders visualize the active trading hours of major global financial markets (Sydney, Tokyo, London, and New York) directly on their charts. By identifying these sessions, it allows users to better understand market liquidity and volatility shifts throughout the day.
Core Functionality
The logic operates by converting complex time data into a simple visual guide. It performs three primary tasks:
1. Time Zone Synchronization The script recognizes that different traders live in different time zones, and their trading platforms (brokers) often operate on different server times. To handle this, the tool allows you to input your local GMT offset as well as your broker's GMT offset. It then automatically calculates the correct start and end hours for each global session based on these inputs.
2. Automated Session Identification The script contains a built-in schedule for the four major global hubs. It specifically handles "rollover" scenarios—cases where a trading session might start late in the evening and end early the next morning (crossing the midnight boundary). It ensures that even if a session spans across two different calendar days, it is correctly identified and displayed as a single continuous block of time.
3. Visual Mapping on the Chart Instead of just providing a list of times, the script scans your historical chart data. For every candle on your screen, it checks what time that candle represents:
- If the candle falls within the Sydney session, it marks it at a specific level (0.8).
- If it falls within the Tokyo session, it marks it at 0.6.
- If it falls within the London session, it marks it at 0.4.
- If it falls within the New York session, it marks it at 0.2.
These markings appear as distinct visual indicators in a separate window below your main chart, allowing you to see exactly when each market was active historically.
User Interface Features
In addition to the visual markers on the chart, the script provides a real-time information display in the corner of your screen. It calculates and displays:
- The current local time based on your provided GMT offset.
- A clear text summary showing the exact start and end times for all four major sessions (Sydney, Tokyo, London, and New York) relative to your local clock.
This dual approach provides both a historical perspective (via the chart markers) and an immediate "at-a-glance" reference for current market activity.
//+------------------------------------------------------------------+
//| ForexSession.mq4 |
//| 2011-1-18 16:30:18 oldz.cn@qq.com OldZ |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
// The design idea is from http://www.forexmarkethours.com/
#property copyright "OldZ"
#property link "http://www.metaquotes.net"
#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 1
#property indicator_buffers 4
#property indicator_color1 Blue
#property indicator_color2 Gold
#property indicator_color3 Green
#property indicator_color4 OrangeRed
//---- input parameters
extern int LocalGMT=8; // Local time zone GMT offset
extern int BrokerGMT=1; // Broker MT4's GMT offset
extern bool ShowText = true; // Show each session on the left top corner.
int SessionLocal[8],SessionBroker[8];
//---- buffers
double Sydney[];
double Tokyo[];
double London[];
double NewYork[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,110);
SetIndexBuffer(0,Sydney);
SetIndexLabel(0,"Sydney");
SetIndexEmptyValue(0,0.0);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,110);
SetIndexBuffer(1,Tokyo);
SetIndexLabel(1,"Tokyo");
SetIndexEmptyValue(1,0.0);
SetIndexStyle(2,DRAW_ARROW);
SetIndexArrow(2,110);
SetIndexBuffer(2,London);
SetIndexLabel(2,"London");
SetIndexEmptyValue(2,0.0);
SetIndexStyle(3,DRAW_ARROW);
SetIndexArrow(3,110);
SetIndexBuffer(3,NewYork);
SetIndexLabel(3,"NewYork");
SetIndexEmptyValue(3,0.0);
IndicatorDigits(Digits);
SessionLocal(LocalGMT);
SessionBroker(BrokerGMT);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
Comment("");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
if(counted_bars<0) return(-1);
if(counted_bars>0) counted_bars--;
int limit = Bars-counted_bars;
//----
int i;
int hr;
datetime t5 = iTime(NULL,PERIOD_D1,4);// 4 : draw 5 days
for(i=0;i<limit && Time[i]>=t5 ;i++)
{
hr = TimeHour(Time[i]);
DrawBrokerSession(hr,i);
}
if(ShowText)
ShowSessionLocal();
//----
return(0);
}
//+------------------------------------------------------------------+
void SessionLocal(int LocalGMT)
{
int gmt_diff = 8-LocalGMT;//
SessionLocal[0] = 6 - gmt_diff;
SessionLocal[1] = 14 - gmt_diff;
SessionLocal[2] = 8 - gmt_diff;
SessionLocal[3] = 16 - gmt_diff;
SessionLocal[4] = 16 - gmt_diff;
SessionLocal[5] = 0 - gmt_diff;//
SessionLocal[6] = 21 - gmt_diff;
SessionLocal[7] = 5 - gmt_diff;
for( int i=0;i<8;i++)
if(SessionLocal[i]<0) SessionLocal[i]=+24;
}
void SessionBroker(int BrokerGMT)
{
int gmt_diff = 1-BrokerGMT;//
SessionBroker[0] = 23 - gmt_diff;
SessionBroker[1] = 7 - gmt_diff;
SessionBroker[2] = 1 - gmt_diff;
SessionBroker[3] = 9 - gmt_diff;
SessionBroker[4] = 9 - gmt_diff;
SessionBroker[5] = 17 - gmt_diff;
SessionBroker[6] = 14 - gmt_diff;
SessionBroker[7] = 22 - gmt_diff;
for( int i=0;i<8;i++)
if(SessionBroker[i]<0) SessionBroker[i]=+24;
}
void DrawBrokerSession(int hr,int i)
{
if(SessionBroker[0]<SessionBroker[1])
if(SessionBroker[0]<=hr && hr <=SessionBroker[1]) Sydney[i]=0.8;
if(SessionBroker[0]>SessionBroker[1])
{
if(hr>=SessionBroker[0] && hr<=23) Sydney[i] = 0.8;
if(hr>=0 && hr<=SessionBroker[1]) Sydney[i] = 0.8;
}
if(SessionBroker[2]<SessionBroker[3])
if(SessionBroker[2]<=hr && hr <=SessionBroker[3]) Tokyo[i]=0.6;
if(SessionBroker[2]>SessionBroker[3])
{
if(hr>=SessionBroker[2] && hr<=23) Tokyo[i] = 0.6;
if(hr>=0 && hr<=SessionBroker[3]) Tokyo[i] = 0.6;
}
if(SessionBroker[4]<SessionBroker[5])
if(SessionBroker[4]<=hr && hr <=SessionBroker[5]) London[i]=0.4;
if(SessionBroker[4]>SessionBroker[5])
{
if(hr>=SessionBroker[4] && hr<=23) London[i] = 0.4;
if(hr>=0 && hr<=SessionBroker[5]) London[i] = 0.4;
}
if(SessionBroker[6]<SessionBroker[7])
if(SessionBroker[6]<=hr && hr <=SessionBroker[7]) NewYork[i]=0.2;
if(SessionBroker[6]>SessionBroker[7])
{
if(hr>=SessionBroker[6] && hr<=23) NewYork[i] = 0.2;
if(hr>=0 && hr<=SessionBroker[7]) NewYork[i] = 0.2;
}
}
void ShowSessionLocal()
{
Comment("\n",
"Forex market session on local time (GMT ",LocalGMT,") ",TimeToStr(TimeLocal(),TIME_SECONDS),"\n",
"Sydney session: ",SessionLocal[0]+":00 ----",SessionLocal[1]+":59","\n",
"Tokyo session: ",SessionLocal[2]+":00 ----",SessionLocal[3]+":59","\n",
"London session: ",SessionLocal[4]+":00 ----",SessionLocal[5]+":59","\n",
"NewYork session: ",SessionLocal[6]+":00 ----",SessionLocal[7]+":59","\n");
}
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