If you are tired of constantly switching from chart to chart or loading a thousand currency pairs on a limited MetaTrader 4 terminal to find out the best trading opportunities in the Asian session, then the Session Indicator Scanner is perfect for you.
Based on the trading strategy of Steve Mauro, the Sessions indicator is designed to analyze the entire Forex market at the opening of the London session and the closing of the Asian session. It can also be useful for trading breakouts. The Sessions indicator tracks the number of pips / pips from the results of the Asian session to the possible high or low of the day, based on the breakouts of the Asian session. As soon as the target level of pips/points is reached, the Sessions indicator will report that the goal specified in the settings has been reached
The exchange updates the exchange rates at 17: 00 Eastern Standard time. For many traders, this is known as the Asian session. At this time, the Sessions Scanner Indicator As soon as the Asian session is completed, the Scanner Sessions indicator will start tracking market movements outside the range of the Asian session in points/points. When the market reaches a certain target outside the range of the Asian session specified in the input parameters first, second goal, an audible signal will notify about the achievement of the target. The Session Indicator will continue to track market movements outside the range of the Asian session until it is updated at 17: 00 Eastern Standard Time.
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The Session Indicator only monitors and notifies about certain conditions that occur in the market, and does not give signals to open any market positions.
The Sessions Scanner Indicator settings allow you to customize it to your needs. The following options are available:
- Session Time: time to track movements in pips/points.
- Goal: target level, there are 2 options for setting the goal in points. Example: to receive alerts when 25 pips are reached, enter the value 250.
- Pairs: the number of currency pairs displayed in the panel. There are two fields for entering characters, since all characters do not fit in one field. You can use cryptocurrencies, commodities, stocks, or any other symbol provided by your broker. Please note: enter the names of the symbols exactly as they are presented in the MetaTrader 4 terminal, separating them with a semicolon. Example: “EURUSD;” or ” EURUSDi;”.
- Color Code: Sets the colors that will be used when the specified target range is reached. You can customize it to your liking.
- Font Size: the font size of the text in the panel.
- Chart Positioning: The position of the Session Indicator Scanner indicator on the chart.
- Alerts: Receive notifications when the specified target range is reached. These include: pop-up alerts, push notifications, email notifications, push notifications, and sound alerts.
Please note: a negative value of the Session Indicator Scanner means that the market is experiencing a downward movement. A zero value indicates that the indicator did not work for a specified period of time, or that there was no movement outside the range of the Asian session.
Clearing the chart