Forex-Basic-Hour-Indicator
Watch the testing video here:
What does Forex Indicator mean?
A forex indicator is a statistical tool that currency traders use to make judgements about the direction of a currency pair’s price action. Forex indicators come in many types, including leading indicators, lagging indicators, confirming indicators and so on. Popular forex indicators include moving averages, relative strength index (RSI) and average true range (ATR). A forex trader must choose the indicators that fit his or her trading strategy.
This particular indicator automatically displays forex trading sessions as rectangles on the chart of a currency pair. It eliminates the need to remember the trading hours of exchanges and calculate the difference between the local and the global time.
The indicator is good for novice traders since it can help to reduce the number of errors when planning trading strategies. It is also useful for experienced traders, as it makes it much easier to work by visually displaying the trading hours of sessions on the chart.
Lateral sides of the session box representing its opening and closing hours. The upper and lower sides depict the high and low of a price range formed during the trading hours of the session.
