Market Sessions

Overview

The Market Session feature is a crucial tool for traders who wish to gain insights into the market's behavior during specific trading sessions. Market sessions hold significant importance in the financial markets as they reflect varying trading activities and sentiments across different times of the day. This feature not only visualizes these sessions but also incorporates half and volume-based key levels for each session. This allows for a detailed analysis of where and how volume was distributed during these periods. The high and low levels, along with key levels identified by the feature, are instrumental in pinpointing critical and influential levels in the markets.

Settings

You can enable the Market Sessions feature in your indicator settings:

Market Sessions SettingsDescription

Sydney

Displays Sydney Market Sessions.

Tokyo

Displays Tokyo Market Sessions.

London

Displays London Market Sessions.

New York

Displays New York Market Sessions.

Key Level

Displays key levels in Market Sessions. - Disabled: No key level display. - Half: Displays key levels at the session's middle. - Volume: Displays key levels based on session volume.

Show Text

Displays text for Market Sessions.

Best Practices & Usage

  • Identify Session-Based Trends: Use the feature to observe how the market behaves in different sessions. This can be particularly useful for understanding intraday dynamics and for traders who specialize in session-based trading strategies.

  • Analyze Volume Patterns: Pay attention to the volume-based key levels. These levels can provide insights into where significant trading activity occurred, helping to identify potential support and resistance areas.

  • Incorporate into Entry/Exit Strategies: Utilize the high and low levels of each session to refine entry and exit points. These levels often act as psychological barriers in the market and can influence future price movements.

  • Compare Across Sessions: Look for patterns or changes in market behavior across different sessions. This comparison can reveal shifts in market sentiment or emerging trends.

  • Combine with Other Analysis Tools: While the Market Previous Market Session feature provides valuable insights, it should be used in conjunction with other technical analysis tools and indicators for a more rounded approach to market analysis.

Examples

The example below shows how the volume-based Key Level was used to detect where a significant number of trades were being taken. The price action was bearish as it was treated as a resistance zone, which led to the price dropping.

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