Session High-Low Indicator for MetaTrader

Related: Quantora Trading Session Monitor MT5 - Professional Market Session and Activity Monitor - another powerful indicator for MetaTrader 5 traders.

Session High-Low

Also recommended: Quantora Session Clock MT5 - Professional Forex Trading Session Monitor - similar indicator with strong performance on MetaTrader 5.

The Idea Behind It

Every trading approach that relies on sessions begins with a manual step: identifying the range of a past session before trading its breakout, reversal, or overlap with the next session. This indicator automates that initial step. It monitors each bar within a user-defined time window, records the highest high and lowest low achieved during that period, and displays these levels on the chart once the session concludes. The current session remains active, updating with every tick until its own defined window ends.

The indicator is designed to be symbol and timeframe independent. The session window is determined solely by server time (hours/minutes), making the same settings applicable whether you are defining the Asian session range on Gold, the London session range on an FX major pair, or a custom time window for a news event on an index. Lower timeframes (M1-M15) generally provide more precise range boundaries, as the hourly/minute check for session initiation and closure requires sufficient bar resolution to capture these transitions accurately.

How to Interpret It

The Session Window

Defined by InpSessionStartHour:InpSessionStartMinute to InpSessionEndHour:InpSessionEndMinute, using your broker's server time. The indicator automatically handles overnight sessions (e.g., 23:00 to 08:00), so the logic works for both same-day and cross-midnight sessions without needing separate configurations.

Completed Sessions

Once a session's time window has closed, its high and low levels are finalized and remain on the chart as historical reference points. The InpSessionsToShow input determines how many of these past sessions are displayed simultaneously, with older sessions automatically removed to prevent chart clutter.

The Current Session

The most recent, still-open session window is redrawn on every tick, not just at the close of a new bar. This ensures its high and low levels always reflect the most current price action. With InpExtendCurrentSession enabled, the right edge of the current session's visual representation is extended to the present time, rather than stopping at the session's nominal end time, clearly indicating that it is still forming.

Display Mode

You can choose to display the session range as a single rectangle spanning the entire session's high-to-low range (Box mode), or as two separate horizontal lines representing the high and the low independently (Lines mode), depending on which provides better visual clarity on your chart.

External Variables (Inputs)

Input

Default

Purpose

InpSessionStartHour / InpSessionStartMinute

8 / 0

Specifies the start hour and minute for the session window, based on broker/server time.

InpSessionEndHour / InpSessionEndMinute

16 / 0

Specifies the end hour and minute for the session window, based on broker/server time. If the end time is earlier than the start time, the window is considered overnight.

InpSessionsToShow

10

Determines the number of past session ranges to keep visible on the chart before they are automatically aged off.

InpDisplayMode

Box

Selects the display style: Box for a single rectangle, or Lines for separate high and low lines.

InpHighLineColor / InpLowLineColor

Lime / Red

Sets the colors for the high and low lines when Lines mode is active.

InpBoxColor

DodgerBlue

Sets the border color for the rectangle when Box mode is active.

InpLineStyle / InpLineWidth

Dash / 1

Defines the line style and width applied to the session boundaries in either display mode.

InpShowLabels

true

Enables or disables the display of a small price label (e.g., "H: ... L: ...") next to each session.

InpExtendCurrentSession

true

Extends the right edge of the currently active session to the current time, making its ongoing nature visually apparent.

Recommended Usage

This indicator is versatile and can be used on any trading symbol and any timeframe. Its session logic is based purely on time, not on price patterns, making it suitable for marking the Asian session before a London breakout, the London session before New York overlap, or any fixed time window such as around a news release. Always verify your broker's server time against the intended session hours before relying on the default inputs, as server time offsets can differ between brokers and due to daylight saving time adjustments in different time zones.

All chart objects created by this indicator are managed under a single internal name prefix and are completely removed using ObjectsDeleteAll() in OnDeinit() when the indicator is detached from the chart, ensuring no residual objects are left behind.

Illustration: Session ranges are displayed as dashed boxes on XAUUSD M15. The current session extends live, showing its active range. This visualization is rendered in black and white, adhering to common guidelines for financial chart displays.

You may also like: Session Volatility Heatmap - excellent alternative for indicator users on MetaTrader 5.

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• 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.