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Market Hour Indicator

Market Hour Indicator is one the most useful indicators for the traders who trade in different markets. The indicator highlights the area in the chart during which a particular market is open. It operates on four different markets i.e. New York Stock Exchange, Australian Stock Exchange, Tokyo Stock Exchange and London Stock Exchange. The indicator is intended for use on M1, M5, M15, M30 and H1 time frames only.

Input Parameters

  • NYSEMarket: Enable/Disable for NYSE market
  • NYSEMarketOpeningTime: Specify the market opening time
  • NYSEMarketClosingTime: Specify the market closing time
  • ASXMarket: Enable/Disable for ASX market
  • ASXMarketOpeningTime: Specify the market opening time
  • ASXMarketClosingTime: Specify the market closing time
  • TSEMarket: Enable/Disable for TSE market
  • TSEMarketOpeningTime: Specify the market opening time
  • TSEMarketClosingTime: Specify the market closing time
  • LSEMarket: Enable/Disable for LSE market
  • LSEMarketOpeningTime: Specify the market opening time
  • LSEMaketClosingTime: Specify the market closing time

How to use the indicator

  1. Attach the custom indicator MHI to the chart.
  2. Enable the Forex market which a trader wants to track. More than one market can be tracked simultaneously by enabling the respective markets.
  3. Traders can edit the respective market opening and closing time.
  4. For different Forex markets, different colored rectangle will be formed.

The indicator uses different colors to indicate the different market timings:

  • NYSE Market: Red colored rectangle
  • ASX Market: Golden colored rectangle
  • TSE Market: Green colored rectangle
  • LSE Market: Blue colored rectangle

Market Hour Indicator is a very helpful and much needed indicator. Using this indicator, traders can track different market opening and closing timings simultaneously on a single chart.

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