Ex trading is conducted almost in every part of the world; it requires traders to watch the market round the clock. It involves the exchange of one currency with another. If we look at Forex trading, five trading sessions take place within an hour – Frankfurt, London, New York, Sydney, and Tokyo. Forex trading is open five days a week and runs for 24 hours. Each day, the trading session is divided into North American, European, and Asian sessions.
The Forex market is highly volatile, and the intensity of this volatility changes according to each session and market hours. Thus, it becomes essential for traders to use tools and indicators to keep up with this volatility.
One of the best-known indicators available to the trader is the Forex Market Hours GMT Trading Session Indicator. It helps the trader know when the price is moving slower, which is usually during the Asian session, or when the price is moving faster, mostly when the New York and London sessions are in action.
These indicators are an essential part of Forex trading. This helps traders create trading plans that they can comfortably follow by the market planning.
Download Forex Market Hours GMT MT4 indicator
Below you can download the forex market hours GMT MT4 indicator that will show on the chart major forex sessions and highest and lowest prices in that sessions.
How to Use Forex Market Hours GMT
Those who have been using the Forex Market Hours GMT Indicator for a long time will claim it is one of the most apparent indicators to trace the trading sessions. Not only does it helps in clearly outlining different sessions on the chart, but it also looks for the overlapping sessions that could be beneficial for a Forex trader.
The Forex Market Hours GMT Indicator can be equated to a time panel that appears on a Forex chart. Using this time panel, traders can easily trace different sessions on the price chart and plan their exit or entry into the market. It doesn’t matter if you are an expert or a beginner; the time panel is the fundamental part of trading that is important at all levels.
Different market sessions have different volatility ratios. Therefore, it is essential to use such indicators to track different trading sessions. Also, other trading sessions are suitable for trading various commodities. For example, if you want to trade Forex, New York and London sessions are the best fit.
Benefits of Using Forex Market Hours GMT
Some benefits of using the Forex Market Hours GMT are:
- You can trace out all major five trading sessions
- You can find out the closing and opening time of different markets
- It helps you to track different time zones and their overlapping periods
The Forex Market Hours GMT indicator is highly accurate when showing different market sessions. It is an essential part of Forex trading and cannot be neglected by any trader. It offers a simple solution with very minimum effort required to understand it. It is a tool used by both experienced and novice traders.
However, a single indicator or tool cannot be considered a complete solution for trading. Instead, one must rely on various analyses to ensure that their strategy is beneficial.