Forex Time Zone Indicator for MetaTrader 4 Download – Free – [Trading Finder]

The Time Zone Indicator is one of the critical tools in Forex for MetaTrader 4 (MT4), becoming essential for all traders regardless of their trading style or method. Liquidity and volume in global financial markets are driven by banks and traders from different continents and countries, making it crucial for traders to pay special attention to each market's active hours.

In the Forex market, one of the four major markets (Sydney, Tokyo, London, New York) is active at any given moment. Awareness of these markets open and close times helps traders optimize their use of volume and volatility, leading to better trading decisions.

Time Zone Indicator Table

Local and Server Time Zones

The image below shows Local Time as the reference, and Home is displayed in red. The Server Time (from the MetaTrader broker) is also shown as Server.

European and American Time Zones

In the image below, the American market time zone centered in New York is displayed as New York. The period when the American markets are closed is shown in blue. Similarly, the European time zone, centered in London, displays when this market is active, during which financial transactions occur. The liquidity and volume in these two time zones are the highest throughout the day, particularly for currencies like Euro, Pound, US Dollar, and Swiss Franc.

Asian and Australian Time Zones

In the image below, the Asian market time zone, centered in Tokyo, is shown as Tokyo. When the Asian markets are open (indicated in red), the indicator displays this period. Likewise, the Australian time zone in Sydney shows when this market has finished its activity, and the financial transactions have closed. The liquidity and volume in these two time zones are significant throughout the day for currencies like the Australian Dollar, the New Zealand Dollar, the Japanese Yen, and the Chinese Yuan.

Time Zone Indicator Settings

• Corner: Set to 0 to display in the corner
• This set: the distance from the x-axis to 5
• Yds: Set the distance from the y-axis to 20
• Font: Font is Lucida Console
• font size: Font size is set to 8
• FontColor Blue: when the market is closed
• FontColorMarketOpen Red: when the market is open
• Timezone: Set time based on GMT
• Back: Set to false for no background

Summary

One of the Time Zone Indicator's most essential features is its ability to display the overlap between different sessions. For example, the overlap between the London and New York sessions is often associated with high volatility, which is why many professional traders prefer to trade during this time.