trading session
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This script is designed to provide traders with a visual representation of specific market activity windows based on the time of day and the currency pairs being traded. Rather than relying on complex mathematical formulas, it focuses on "active sessions" to help you identify when certain currencies are most relevant in the market.
How it Works
The logic operates by monitoring the time and the name of the asset you are currently viewing. It uses three primary categories of data:
1. Time-Based Activity Windows The script is configured with specific time ranges for three major currency groups:
- EUR (Euro): Monitors the standard European trading hours.
- USD (US Dollar): Monitors the North American/New York trading sessions.
- JPY (Japanese Yen): Monitors the Asian/Tokyo trading sessions.
2. Automated Asset Recognition The script automatically detects which currency you are trading by looking at the symbol name. It specifically looks for "EUR", "USD", or "JPY" within the pair title. Once identified, it checks if the current chart time falls within the pre-defined active hours for that specific currency.
3. Visual Indicators and Overlaps The script then processes this information to show you when these sessions are active:
- Individual Activity: It identifies when a single currency's primary session is live.
- Session Overlaps: For major cross-currency pairs (like EURUSD, USDJPY, or EURJPY), the logic becomes more sophisticated. It looks for "Overlap Zones"—times when two different sessions are happening simultaneously (for example, when the US session and the Euro session are both active at the same time).
- On-Chart Labeling: To keep your chart organized, the script automatically places text labels on the timeline to indicate the day of the week (e.g., "Mo", "Tu", "We"), helping you navigate historical data easily.
Summary for the Trader
Essentially, this tool acts as a visual calendar for market liquidity. Instead of you having to manually calculate what time it is in London, New York, or Tokyo, the script highlights these periods automatically. It helps you see at a glance which currency's "prime time" is currently active and identifies those high-volatility periods where two major markets are trading simultaneously.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| days.mq4 |
//| Copyright © 2005, Nick Bilak, beluck[AT]gmail.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Nick Bilak"
#property link "http://metatrader.50webs.com/"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 Blue
#property indicator_color2 Black
#property indicator_color3 Red
#property indicator_minimum -10
#property indicator_maximum 10
#property indicator_width1 3
#property indicator_width2 3
#property indicator_width3 3
extern string font="Arial";
extern int fontSize=10;
extern string USD="15:30-23:00";
extern string EUR="08:00-17:00";
extern string JPY="02:00-09:00";
double buf0[],b1[],b2[],b3[],e1[],e2[];
int eur1,eur2,usd1,usd2,jpy1,jpy2;
int init() {
IndicatorBuffers(6);
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(0,buf0);
ArrayInitialize(buf0,-12);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(1,e1);
SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(2,e2);
SetIndexBuffer(3,b1);
SetIndexBuffer(4,b2);
SetIndexBuffer(5,b3);
SetIndexEmptyValue(1,0);
SetIndexEmptyValue(2,0);
SetIndexEmptyValue(3,0);
eur1=StrToInteger(StringSubstr(EUR,0,2))*100;
eur2=StrToInteger(StringSubstr(EUR,6,2))*100;
usd1=StrToInteger(StringSubstr(USD,0,2))*100;
usd2=StrToInteger(StringSubstr(USD,6,2))*100;
jpy1=StrToInteger(StringSubstr(JPY,0,2))*100;
jpy2=StrToInteger(StringSubstr(JPY,6,2))*100;
return(0);
}
int deinit() {
ObjectsDeleteAll(0,OBJ_TEXT);
}
int start() {
int counted_bars=IndicatorCounted();
int i,j,limit,c,lev,t;
double line;
string days[] = {"Su","Mo","Tu","We","Th","Fr","Sa"};
if (counted_bars<0) return(-1);
if (counted_bars>0) counted_bars--;
//limit=6*24*60/Period();
limit=Bars-2;
if(counted_bars>=2) limit=Bars-counted_bars+1;
int wn=WindowFind("days");
color day;
if (wn<=0) wn=1;
for (i=limit;i>=0;i--) {
if (TimeDay(Time[i])!=TimeDay(Time[i+1])) {
ObjectDelete(TimeToStr(Time[i],TIME_DATE|TIME_MINUTES)+"-"+i);
ObjectCreate(TimeToStr(Time[i],TIME_DATE|TIME_MINUTES)+"-"+i,OBJ_TEXT,wn,Time[i],8);
ObjectSetText(TimeToStr(Time[i],TIME_DATE|TIME_MINUTES)+"-"+i, days[TimeDayOfWeek(Time[i])], fontSize, font, indicator_color1);
}
b1[i]=0; b2[i]=0; b3[i]=0; e1[i]=0; e2[i]=0;
t=TimeHour(Time[i])*100+TimeMinute(Time[i]);
//Symbol()=="EURUSD"
if (StringSubstr(Symbol(),3,3)=="EUR" || StringSubstr(Symbol(),0,3)=="EUR") {
if ( eur1<eur2 && t>=eur1 && t<=eur2 ) {
b1[i]=1;
}
if ( eur1>eur2 && !(t>=eur1 && t<=eur2) ) {
b1[i]=1;
}
}
if (StringSubstr(Symbol(),3,3)=="USD" || StringSubstr(Symbol(),0,3)=="USD") {
if ( usd1<usd2 && (t>=usd1 && t<=usd2) ) {
b2[i]=1;
}
if ( usd1>usd2 && !(t>=usd1 && t<=usd2) ) {
b2[i]=1;
}
}
if (StringSubstr(Symbol(),3,3)=="JPY" || StringSubstr(Symbol(),0,3)=="JPY") {
if ( jpy1<jpy2 && (t>=jpy1 && t<=jpy2) ) {
b3[i]=1;
}
if ( jpy1>jpy2 && !(t>=jpy1 && t<=jpy2) ) {
b3[i]=1;
}
}
if (Symbol()=="USDJPY") {
if (b3[i]>0 || b2[i]>0) e1[i]=1;
if (b3[i]>0 && b2[i]>0) { e2[i]=1; e2[i]=1; }
} else
if (Symbol()=="EURJPY") {
if (b3[i]>0 || b1[i]>0) e1[i]=1;
if (b3[i]>0 && b1[i]>0) { e2[i]=1; e2[i]=1; }
} else
if (Symbol()=="EURUSD") {
if (b1[i]>0 || b2[i]>0) e1[i]=1;
if (b1[i]>0 && b2[i]>0) { e2[i]=1; e2[i]=1; }
} else
if (StringSubstr(Symbol(),3,3)=="JPY" || StringSubstr(Symbol(),0,3)=="JPY") {
if (b3[i]>0) e1[i]=1;
} else
if (StringSubstr(Symbol(),3,3)=="USD" || StringSubstr(Symbol(),0,3)=="USD") {
if (b2[i]>0) e1[i]=1;
} else
if (StringSubstr(Symbol(),3,3)=="EUR" || StringSubstr(Symbol(),0,3)=="EUR") {
if (b1[i]>0) e1[i]=1;
}
}
return(0);
}
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