MktOpen

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MktOpen

This script is designed as a visual aid for traders using the MetaTrader 4 platform. Its primary purpose is to automatically map out the opening and closing times of major global financial markets directly onto your price charts. By providing these visual cues, it helps traders identify periods of high liquidity and volatility without having to manually calculate time zone differences.

Core Functionality

Market Session Tracking The script monitors specific time data for several major global hubs, including:

  • New York
  • London
  • Auckland
  • Sydney
  • Tokyo
  • Hong Kong
  • Frankfurt
  • US News Events

Visual Representation When the script detects a designated market opening or closing time, it draws vertical lines on the chart. Each market is assigned a unique color (such as PeachPuff for London or LightPink for New York) to make it easy to distinguish between different sessions at a glance. Additionally, it places text labels above these lines so you can instantly identify which specific market event is occurring.

Advanced Planning Features The logic includes two specific features for more proactive trading:

  1. Time Adjustments: The script can automatically calculate and display the "Closing" times for several markets based on their known opening hours.
  2. Advance Notice: There is an optional feature that allows the script to draw dashed lines 30 minutes before a major market opens. This provides a visual "warning" signal, allowing traders to prepare for incoming price action before the heavy volume actually hits the market.

Smart Display Logic To ensure the chart remains clean and readable, the script includes several built-in "housekeeping" rules:

  • Timeframe Restriction: The script will only activate on timeframes of 1 hour or less. If you are viewing a daily or weekly chart, the lines will not appear to prevent the screen from becoming cluttered.
  • Automatic Cleanup: The script is designed to manage its own objects efficiently, ensuring that previous markings are handled correctly as the chart updates.

Summary for the User

Essentially, this tool acts as a global "clock" for your trading screen. It transforms raw time data into a visual map, showing you exactly when the world's major financial centers wake up and go to sleep, helping you stay ahead of market shifts.

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MktOpen 
//   mMktOpen.mq4

#property indicator_chart_window

extern bool NY=true;
extern bool London=true;
extern bool Auckland=true;
extern bool Sydney=true;
extern bool Tokyo=true;
extern bool HongKong=true;
extern bool Frankfurt=true;
extern bool USNews=true;
extern bool t30MinAdvanceNotice=false;     //display dashed line 30 minutes before opening?

//Data provider times for openings
extern int NYOpenDataTime=15;
extern int LondonOpenDataTime=10;
extern int AucklandOpenDataTime=23;
extern int SydneyOpenDataTime=1;
extern int TokyoOpenDataTime=2;
extern int HongKongOpenDataTime=3;
extern int FrankfurtOpenDataTime=8;
extern int USNewsOpenDataTime=15;

extern color NYColor=LightPink;
extern color LondonColor=PeachPuff;
extern color AucklandColor=Bisque;
extern color SydneyColor=PaleGreen;
extern color TokyoColor=LightSalmon;
extern color HKColor=Yellow;
extern color FrankfurtColor=DarkTurquoise;
extern color USNewsColor=White;
double val1,val2;

int deinit()
  {
   int bars_count=BarsPerWindow(), i;
   for (i=0;i<bars_count;i++)
      {
      ObjectDelete("VLL"+DoubleToStr(i,0));
      ObjectDelete("VL"+DoubleToStr(i,0));
      
      }
   return(0);
  }
//----------------------------------------------------------------------------------------
int start()
   {
   int counted_bars=IndicatorCounted();
   int bars_count=BarsPerWindow(),h,m;
   bool drawvl;
   if (Period()>PERIOD_H1) 
      {
         return(0);    //If time > 1 hour clutters up screen
      }
   for (int i=0;i<bars_count;i++)
      {
         drawvl=false;
         h=TimeHour(Time[i]);
         m=TimeMinute(Time[i]);
         if (London==true)
            {
               if ((h==LondonOpenDataTime) && (m==0)) {drawvl=true;VerticalLine("LondO",i,STYLE_SOLID,LondonColor);}
               if ((h==TimeAdjust(LondonOpenDataTime,0)) && (m==0)) {drawvl=true;VerticalLine("LC",i,STYLE_DOT,LondonColor);}
               if (t30MinAdvanceNotice==true)
                  {
                     if ((h==TimeAdjust(LondonOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,LondonColor);}
                     if ((h==TimeAdjust(LondonOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,LondonColor);}
                  }
            }
         if (NY==true)
            {
               if ((h==NYOpenDataTime) && (m==0)) {drawvl=true;VerticalLine("NYO",i,STYLE_SOLID,NYColor);}
               if ((h==TimeAdjust(NYOpenDataTime,0)) && (m==0)) {drawvl=true;VerticalLine("NYC",i,STYLE_DOT,NYColor);}
               if (t30MinAdvanceNotice==true)
                  {
                     if ((h==TimeAdjust(NYOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,NYColor);}
                     if ((h==TimeAdjust(NYOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,NYColor);}
                  }

            }
         if (Auckland==true)
            {
               if ((h==AucklandOpenDataTime) && (m==0)) {drawvl=true;VerticalLine("AuckO",i,STYLE_DOT,AucklandColor);}
               //if ((h==TimeAdjust(AucklandOpenDataTime,0)) && (m==0)) {drawvl=true;VerticalLine("AuckC",i,STYLE_SOLID,AucklandColor);}
               if (t30MinAdvanceNotice==true)
                  {
                     if ((h==TimeAdjust(AucklandOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,AucklandColor);}
                     if ((h==TimeAdjust(AucklandOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,AucklandColor);}
                  }
            }
         if (Sydney==true)
            {
               if ((h==SydneyOpenDataTime) && (m==0)) {drawvl=true;VerticalLine("SydO",i,STYLE_DOT,SydneyColor);}
               //if ((h==TimeAdjust(SydneyOpenDataTime,0)) && (m==0)) {drawvl=true;VerticalLine("SydC",i,STYLE_SOLID,SydneyColor);}  //TURNED OFF so London Open shows
               if (t30MinAdvanceNotice==true)
                  {
                     if ((h==TimeAdjust(SydneyOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,SydneyColor);}
                     if ((h==TimeAdjust(SydneyOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,SydneyColor);}
                  }
            }
         if (Tokyo==true)
            {
               if ((h==TokyoOpenDataTime) && (m==0)) {drawvl=true;VerticalLine("TokyoO",i,STYLE_SOLID,TokyoColor);}
               if ((h==TimeAdjust(TokyoOpenDataTime,0)) && (m==0)) {drawvl=true;VerticalLine("TokyoC",i,STYLE_DOT,TokyoColor);}
               if (t30MinAdvanceNotice==true)
                  {
                     if ((h==TimeAdjust(TokyoOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,TokyoColor);}
                     if ((h==TimeAdjust(TokyoOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,TokyoColor);}
                  }
           //Added in Frankfurt       
             }     
          if (Frankfurt==true)
            {
            if ((h==FrankfurtOpenDataTime) && (m==0)) {drawvl=true;VerticalLine("FrankO + AuckC",i,STYLE_DOT,FrankfurtColor);}
            if (t30MinAdvanceNotice==true)                                       
            {
                     if ((h==TimeAdjust(FrankfurtOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,FrankfurtColor);}
                     if ((h==TimeAdjust(FrankfurtOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,FrankfurtColor);}
                  }  
                      
            }
         if (HongKong==true)
            {
               if ((h==HongKongOpenDataTime) && (m==0)) {drawvl=true;VerticalLine("HKO",i,STYLE_DOT,HKColor);}
               if ((h==TimeAdjust(HongKongOpenDataTime,0)) && (m==0)) {drawvl=true;VerticalLine("HKC",i,STYLE_DOT,HKColor);}
               if (t30MinAdvanceNotice==true)
                  {
                     if ((h==TimeAdjust(HongKongOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,HKColor);}
                     if ((h==TimeAdjust(HongKongOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,HKColor);}
                  }
                     }
         if (HongKong==true)
            {
               if ((h==USNewsOpenDataTime) && (m==30)) {drawvl=true;VerticalLine("NEWS",i,STYLE_DASHDOT,USNewsColor);}
               //if ((h==TimeAdjust(USNewsOpenDataTime,0)) && (m==30)) {drawvl=true;VerticalLine("NEWS",i,STYLE_DOT,USNewsColor);}
               if (t30MinAdvanceNotice==true)
                  {
                     if ((h==TimeAdjust(USNewsOpenDataTime,1)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,USNewsColor);}
                     if ((h==TimeAdjust(USNewsOpenDataTime,2)) && (m==30)) {drawvl=true;VerticalLine("",i,STYLE_DASH,USNewsColor);}
                  }
            }
      }
   return(0);
   }
//----------------------------------------------------------------------------------------------
int VerticalLine(string s,int i,int st,int Col)    //s=Text Label, i = bar, st=Line Style, Col = color
   {
   ObjectDelete("VL"+DoubleToStr(i,0));
   ObjectDelete("VLL"+DoubleToStr(i,0));// added to make sure of delete
   val1=Low[Lowest(NULL,0,MODE_LOW,BarsPerWindow(),0)];
   val2=High[Highest(NULL,0,MODE_HIGH,BarsPerWindow(),0)];
   ObjectCreate("VL"+DoubleToStr(i,0),OBJ_TREND,0,Time[i],0,Time[i],900);
   ObjectSet("VL"+DoubleToStr(i,0),OBJPROP_COLOR,Col);
   ObjectSet("VL"+DoubleToStr(i,0),OBJPROP_WIDTH,1);
   ObjectSet("VL"+DoubleToStr(i,0),OBJPROP_STYLE,st);
   ObjectSet("VL"+DoubleToStr(i,0),OBJPROP_RAY,0);
   ObjectDelete("VLL"+DoubleToStr(i,0));
   ObjectCreate("VLL"+DoubleToStr(i,0),OBJ_TEXT,0,Time[i],val2+Point*3);//val2-Point*16 Brings labels down screen 
   ObjectSetText("VLL"+DoubleToStr(i,0),s,7,"Arial",Col);               //val2+Point*3  =  Org code
   ObjectsRedraw();
   return(0);
   }

int TimeAdjust(int TimeIn, int ProcessType)  
   {
      if (ProcessType==0)     //Calculate Closing Hour.  Open Hour + 9 hours
         {
            if ((TimeIn>=0) && (TimeIn<=14)){return(TimeIn+9);}
            return(TimeIn-15);
         }   
      if (ProcessType==1)     //Calculate 30MinAdvanceNotice for Opening Hour
         {
            if (TimeIn==0) {return(23);}
            return(TimeIn-1);
         }
      if (ProcessType==2)     //Calculate 30MinAdvanceNotice for Closing Hour
         {
            if ((TimeIn>=0) && (TimeIn<=15)) {return(TimeIn+8);}
            return(TimeIn-16);
         }
   }

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