What is the Market Hours GMT Trading Session Indicator for MT4?

The Market Hours GMT Trading Session Indicator is a tool that can help you monitor the forex market during trading hours. The indicator uses two timeframes to track the activity in the currency markets: the 1-minute chart and the 15-minute one.

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By using these two charts, you can see if there are any significant trends taking place at any given moment. You can also use this information to make better investment decisions by understanding which currencies are heating or cooling down at specific times of the day.

How to use the Market Hours GMT Trading Session Indicator for MT4?

To use this indicator, first set your timeframe to Daily or Weekly charting mode (you can find this setting under “Settings” -> “Charts”). You then need to select your market currency pair and chosen period of analysis – This could be a morning European session, afternoon US session, etc. Next, click the “+” button at the bottom of your chart window and select “Market Hours GMT Trading Session Indicator.” The indicator will automatically populate relevant data for your specified timeframe and currency pair(s). Finally, drag it around your screen to get a visual representation of its results!

Market Hours GMT Trading Session Indicator MT4 trading settings

Forex market hours GMT trading session indicator MT4 trading settings:

1) Open a new chart with the XM forex platform.

2) Select Indicators → Hourly % RSI (14) from the Chart menu. The 14-period RSI will be displayed on the chart and in the indicators window.

3) To activate this indicator, double-click its icon or drag it to your preferred position on the chart. The arrowhead will turn green when it is automatically activated.

Market Hours GMT Trading Session Indicator Advantages

Forex market hours GMT trading session indicator advantages:

-Provides the best possible time frame for making profitable trades. Trades during European Trading Hours (ET) are usually more volatile and offer a more significant profit opportunity.

-Helps traders to identify entry and exit points with precision, maximizing their chances of success.

-Allows you to trade independently of the general market movement, which can provide an edge in volatile markets.

Market Hours GMT Trading Session Indicator Disadvantages

However, there are several disadvantages to relying on this indicator during specific trading sessions. For example, this indicator may not be accurate if markets are volatile or moving quickly. Additionally, it’s important to note that this indicator only indicates general trends – it doesn’t provide any specific buy or sell signals. So, before using a hand like the GMT Trading Session Indicator, it’s essential to carefully examine your circumstances and goals for investing in forex.

Indicator installation on MT4

To install the Market Hours GMT Trading Session Indicator on the MetaTrader 4 (MT4) platform, you can follow these steps:

1. Download the indicator: You can find the Market Hours GMT Trading Session Indicator online; sometimes, it’s a custom indicator you can download to your computer.
2. Open MT4: Open the MetaTrader 4 platform on your computer.
3. Go to the “Navigator” window: To access the Navigator window, click on the “View” menu, and then click on “Navigator.”
4. Click on “Indicators”: In the Navigator window, click on the “Indicators” tab.
5. Select “Custom Indicators”: In the Indicators tab, select the “Custom Indicators” option.
6. Add the indicator: Click the “Browse…” button and navigate to the location where you saved the Market Hours GMT Trading Session Indicator on your computer. Select the indicator and click “Open.”
7. Drag and drop the indicator: Once added to the list of custom indicators, you can drag and drop it onto your chart.
8. Configure the settings: You can configure the indicator’s settings to suit your trading style.
9. Apply to a chart and start using it.

Please note that the above steps are general and may vary depending on the version of MT4 you are using. Also, ensure you have the appropriate rights to use the indicator if you got it from a third party.

Also, the indicator is based on the GMT zone, so it’s essential to ensure that your MT4 platform is set to use the GMT zone or adjust the hand to match your time zone.

Market Hours GMT Trading Session Indicator mt4 free download

Conclusion

The market hours GMT trading session indicator can help you understand better which markets are open and closed at specific times. By using this information, you can adjust your trading strategy accordingly.