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Plot Forex Trading Sessions on your Currency Charts

By , Quantitative Strategist
25 January 2011 20:00 GMT

Trade intraday seasonal trends? Using a free indicator on Strategy Trader you can plot different trading sessions directly on your trading charts.

Intraday studies show that market volatility tends to vary significantly per trading session, which is an important consideration when adapting different trading styles to a given session.

Plot_Forex_Trading_Sessions_on_your_Currency_Charts_body_Picture_4.png, Plot Forex Trading Sessions on your Currency Charts

You can plot trading sessions on your chart using a freely available indicator for Strategy Trader.

Trading Sessions Indicator for FXCM Strategy Trader

If you do not already have Strategy Trader installed on your computer, go to the automated trading page and download the platform. Once you have installed the platform, visit our Forex Forum thread on the Trading Sessions indicator.

Download the attached .zip file and run the “TradingSessions.fxd” file once unzipped. This should open your Strategy Trader Editor and prompt you to import the “Trade_Sessions_Indicator” Indicator. Hit ‘OK’ and it will import the indicator into your Strategy Trader installation.

From there, open the included “TradingSessions.fxw” file to get an example on how to load it onto your own forex charts.

Plot_Forex_Trading_Sessions_on_your_Currency_Charts_body_Picture_5.png, Plot Forex Trading Sessions on your Currency Charts

To edit the settings, right-click on the chart and select “Format Indicator”. From here you can tell it whether you want it to draw boxes around each respective session (True) or not (False).

Plot_Forex_Trading_Sessions_on_your_Currency_Charts_body_Picture_6.png, Plot Forex Trading Sessions on your Currency Charts

The indicator and function take care of the rest: you now have the trading sessions plotted on the chart by assigned times, which can really give you a sense of how price action shifts around different times of the day.

Questions? Comments? Feel free to post on the forex forum thread for a swift response.

Did you find this article useful? E-mail the author David Rodríguez at drodriguez@dailyfx.com.

To join the author’s Distribution for this content and similar in the future, e-maildrodriguez@dailyfx.com with subject line “Distribution List”.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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25 January 2011 20:00 GMT