Three-Candle Chart for London and New York Trading Sessions
Info
The Three-Candle Chart for London and New York Trading Sessions is a Indicator for MetaTrader 4 that this is a unique chart that displays three candles per trading day, focusing on the london and new york trading sessions. The chart is divided into three segments: London open to New York open, New York open to London close (also known as power hours), and London close to New York close.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Three-Candle Chart for London and New York Trading Sessions
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This is a unique chart that displays three candles per trading day, focusing on the London and New York trading sessions.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: equity chart modeller - another powerful indicator for MetaTrader 4 traders.
This is a unique chart that displays three candles per trading day, focusing on the London and New York trading sessions.Also recommended: albus multi chart 1: advanced chart overlay for metatrader - similar indicator with strong performance on MetaTrader 4.
The chart is divided into three segments: London open to New York open, New York open to London close (also known as power hours), and London close to New York close.A time offset feature is included to account for the difference between GMT and the MT4 broker's time, ensuring accurate chart display.
Additionally, a variable is used to offset the chart, sometimes producing interesting results.
For optimal viewing, it is recommended to use a line chart and a one-hour timeframe.
Key features include:
- Three candles per trading day, covering London and New York sessions
- Time offset variable for accurate display
- Offset variable for alternative chart views
- Best viewed on a line chart with a one-hour timeframe
You may also like: macd indicator on price chart - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 green
#define numberofbars 500
extern int timeoffset=2; //offset from the time of the broker to gmt
extern int sbnumber=0; // special offset to adjust the requested periods
int currentbar;
double openhr[];.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.