Each session leaves a footprint: where it opened, how far it travelled and where it closed. The trading sessions open close indicator draws that footprint for Asia, London and New York, and it speaks when price closes outside the range Asia built overnight.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 6: Asia High, Asia Low, London High, London Low, NY High, NY Low |
| Alerts | popup, push notification, email, sound |
| Inputs | 24 |
Which plots exist
Six level plots plus boxes and labels.
`Asia High` and `Asia Low` trace salmon.
`London High` and `London Low` trace deep sky blue.
`NY High` and `NY Low` trace lime green.
`ShowBoxes` wraps each session in a rectangle.
`ShowOpenLine` marks where each one opened.
- Asia High: plot, salmon
- Asia Low: plot, salmon
- London High: plot, deep sky blue
- London Low: plot, deep sky blue
- NY High: plot, lime green
- NY Low: plot, lime green
What happens behind it
The session hours
Asia runs `AsiaStartHour` `0` to `AsiaEndHour` `8`. London runs `LondonStartHour` `8` to `LondonEndHour` `16`, and New York from `NyStartHour` `13` to `NyEndHour` `22`.
Tracking each range
Inside each window the code keeps the opening price, the highest high and the lowest low. Those three numbers draw the box and its lines.
The breakout test
`EnableBreakout` ships on. A closed bar above today’s Asian high or below its low triggers the message once.
What each state tells you
London and New York overlap from 13 to 16.
That overlap is usually the busiest stretch.
A small Asian box often precedes a London move.
`ShowRangeEnvelope` draws the full session span.
`MaxDays` `6` keeps the chart to recent sessions.
Hours follow the broker clock, not GMT.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
A closed bar outside today’s Asian range is what speaks, and only once per bar. `EnableAlerts` is the parent switch, `EnableBreakout` arms the test, and the popup route is open while phone, mail and `SoundFile` stay shut.
Every Trading Sessions Open Close Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
AsiaStartHour |
Hour Asia opens, `0`. | 0 |
AsiaEndHour |
Hour Asia closes, `8`. | 8 |
LondonStartHour |
Hour London opens, `8`. | 8 |
LondonEndHour |
Hour London closes, `16`. | 16 |
NyStartHour |
Hour New York opens, `13`. | 13 |
NyEndHour |
Hour New York closes, `22`. | 22 |
MaxDays |
how many recent days to draw objects for. Recent days that get objects, `6`. | 6 |
EnableBreakout |
fire on Asian-range breakout. Report an Asian range breakout, `true`. | on |
Display settings
| Setting | What it does | Default |
|---|---|---|
ShowAsia |
(see inputs panel) | on |
ShowLondon |
(see inputs panel) | on |
ShowNy |
(see inputs panel) | on |
ShowBoxes |
(see inputs panel) | on |
ShowOpenLine |
(see inputs panel) | on |
ShowCloseLabel |
(see inputs panel) | on |
ShowRangeEnvelope |
(see inputs panel) | on |
AsiaColor |
(see inputs panel) | salmon |
LondonColor |
(see inputs panel) | deep sky blue |
NyColor |
(see inputs panel) | lime green |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Parent switch for messages, `true`. | on |
EnablePopup |
Terminal popup route, `true`. | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
(see inputs panel) | off |
SoundFile |
(see inputs panel) | alert.wav |
Where the defaults make sense
Session boxes need bars short enough to show the shape inside them. EURUSD H1 is the reference chart, giving eight bars per Asian box. On M15 you see each box build in detail. On H4 a session shrinks to two bars.
Where it falls down
Broker clocks shift against GMT twice a year.
A breakout close can fall straight back inside.
Only the Asian range drives the message.
Six days of boxes still means many objects.
Copy the compiled Trading Sessions Open Close Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Range Trading Strategy.
Background reading on the method behind the Trading Sessions Open Close Indicator: Forex Trading Sessions at BabyPips, Foreign exchange market on Wikipedia.
Download the Trading Sessions Open Close Indicator for MT4 and MT5
The zip holds the compiled Trading Sessions Open Close Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
Do AsiaStartHour and NyEndHour use GMT?
No, they follow your broker’s server clock. Servers run on different offsets, so check the hour your terminal shows at the London open before trusting the boxes.
Why do London High and NY High overlap?
Because the default windows share the hours from 13 to 16. That overlap is often the most active part of the day, so both boxes cover it on purpose.
What does EnableBreakout watch for?
A closed bar finishing above today’s Asian high or below its low. It fires once for that bar, which is the classic London-morning breakout setup.
What does MaxDays 6 limit?
How many recent days get boxes, lines and labels. The levels still calculate for older days, but drawing them all would fill the chart with objects.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Trading Sessions Open Close Indicator as one input. Always backtest before trading live.
Category: this is part of our Sessions collection. Browse more Sessions for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see Implied open on Wikipedia.
- For broader market context, see Dow Jones Breadth Indicators at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.