Xi Asian Session Indicator for MetaTrader 4 – Free Download [TradingFinder]

The Xi Asian Session Indicator is a specialized tool for traders who want to take advantage of the low-volatility and ranging market behavior during the Asian session.

This indicator marks the time range between 00:00 and 07:00 on the chart, allowing the trader to identify price accumulation zones (Range).

Xi Asian Session Indicator Table

The general features of the Xi Asian Session Indicator are presented in the table below:

Xi Asian Session Indicator at a Glance

The Xi Asian Session Indicator draws a rectangular range on the chart, marking the time span of the Asian trading session and the price movement length.

Price exiting this range indicates the formation of an important signal to enter a trade.

In this condition, the trader can use two trading strategies:

• Breakout of the range, where entry occurs immediately after the candle closes outside the range;
• On the pullback from the range, the trader waits for price to return to the specified range and enters after receiving a valid confirmation.

Bullish Trend in the Xi Asian Session Indicator

In an uptrend and based on the reversal strategy of this indicator, after the breakout of the Asian session range, the trader waits for price to return to the broken level to confirm the breakout validity.

Trade entry occurs only when a valid price action signal, such as the formation of a Pin Bar candle (as shown below), appears.

Bearish Trend in the Xi Asian Session Indicator

In a bearish scenario, during the Asian session, price consolidates within a range, and with the start of the New York session, a bearish breakout is confirmed when a strong candle closes below this range.

According to the Asian session breakout strategy, the trader immediately enters a sell position after the candlestick confirmation (as shown below).

Xi Asian Session Indicator Settings

The image below shows the settings panel of the Xi Asian Session Indicator:

Info1

• Session opening hour: Start time of the Asian session
• Session closing hour: End time of the Asian session
• Alarm for when the range exceeds the range alarm threshold: Alarm trigger when the Asian session price range is exceeded
• Range alarm threshold: Range alarm threshold
• Show label with current channel range: Display label of the current range
• Color of label with current channel range: Color of the current range label
• Nr of past days to draw the session channel on chart: Number of past days to draw the session channel on the chart

Info2

• Draw a vertical line to show the session close: Draw vertical line to indicate session close
• Color of the session close time line: Color of the session close line
• Style of the session close time line (0 – 4): Style of the session close line
• Width of the session close time line: Width of the session close line
• Label for session close time line: Label of the session close line

Info3

• Draw a vertical line to show the session close: Display Draw vertical line to indicate session close
• Color of the session close time line: Show Color of the session close line
• Style of the session close time line (0 – 4): Show Style of the session close line
• Width of the session close time line: Show Width of the session close line
• Label for session close time line: Display label of the session close line

Conclusion

The Xi Asian Session Indicator, by determining the range during the Asian trading session, allows traders to identify strong price breakouts in the London and New York sessions.

This trading tool uses two main strategies, breakout and pullback, for entering buy and sell trades.