study("Forex Sessions", shorttitle="SessionsFX", overlay=true)
t1 = time(period, "0700-1600")
t2 = time(period, "0200-1100")
t3 = time(period, "1800-0300")
t4 = time(period, "1600-0100")
NewYork = na(t1) ? na : green
London = na(t2) ? na : red
Tokyo = na(t3) ? na : blue
Sydney = na(t4) ? na : aqua
//white silver gray maroon red purple fuchsia green
//lime olive yellow navy blue teal aqua orange
bgcolor(NewYork, title="New York", transp=85)
bgcolor(London, title="London", transp=85)
bgcolor(Tokyo, title="Tokyo", transp=85)
bgcolor(Sydney, title="Sydney", transp=85)
Programmed by Ruben Jaramillo
The forex market is open 24 hours a day – allowing you to trade at any time of the day or night. There are 4 main forex trading sessions with opening/closing hours based on the biggest financial centers.
Forex market is open 24 hours a day. It provides a great opportunity for traders to trade at any time of the day or night. However, when it seems to be not so important at the beginning, the right time to trade is one of the most crucial points in becoming a successful Forex trader. So, when should one consider trading and why?
The best time to trade is when the market is the most active and therefore has the biggest volume of trades. Actively traded markets will create a good chance to catch a good trading opportunity and make profits. While calm slow markets would literally waste your time & efforts; turn off your computer and don't even bother!