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The Session Box indicator is one of the session and kill zone indicators for MetaTrader 4. It allows traders to analyze and check the timing of financial markets.

The indicator mainly displays trading sessions , including Asia (Tokyo and Sydney), Europe (London and Frankfurt) and the Americas (New York), using colored boxes on the chart.

Using this tool, traders can observe the opening and closing times of each trading session and identify highs, lows, and price movements.

This feature enables traders to better understand price action patterns in each session and adjust their trading strategies accordingly.

dialog box indicator table

The following table outlines the general specifications for dialog box indicators.

Indicators at a glance

Session box indicators show the status of each session. As trading sessions begin, liquidity increases and markets typically experience large swings.

Many trading strategies are designed based on trading hours and opening times.

The Conversation Box indicator enables traders to focus more on each time frame and better analyze the associated volatility.

Understanding these sessions is important for Forex market traders, stock traders and index traders as it directly affects trading volume and market behavior.

Price movement and the beginning of a bullish trend

On the 15-minute EUR/USD chart, the Session Box indicator shows the price range for each session.

This indicator identifies the range of movement in each trading session based on the high (high) and low (low) prices from the opening to closing of the trading session.

The highs and lows formed during the European session (London) are especially important for traders during the New York session, as these levels often act as key support and resistance levels.

As you can see from the chart below, after breaking out of the London session low, price accumulated liquidity and returned to the previous range after a false breakout.

As a result, the trend changes from bearish to bullish, and this price action can create opportunities for traders to trade in the direction of the trend change.

Price movement and the beginning of a bearish trend

On the 15-minute GBP/JPY chart, the session box indicator shows the start and end time of each trading session.

There is a time panel in the upper right corner of the chart that contains information about each session's name, session status (open or closed), and exact start and end times based on UTC time.

As you can see in the chart below, the price started a bearish trend during the European session after breaking out of the Sydney session lows.

The price then fell back to the breakout levels and continued its bearish trend during the New York session as well as the close of the London session.

This price structure shows that the lows of the trading session can serve as key liquidity areas, and analyzing them can allow traders to identify better entry and exit points in their trading strategies.

Conversation box indicator settings

The dialog box indicator is set up as follows:

Variable

• Previous Candles: Number of candles used for calculation
• ShowPanel: Enable/disable indicator panel
• Background: Panel background
• UTC time (true), local time (false): Calculate time based on UTC

Asia Session

• Asia Zone: enable/disable Asia zone
• Asia color custom: Set the color of the Asian time period
• Asia Fill: Enable/disable filling Asia dialog box
• Asia start time (HH:MM): Set the start time of the Asian session
• Asia End Time (HH:MM): Set the end time of the Asian session

Sydney Session

• Sydney Zone: enable/disable Sydney zone
• Sydney Color Customization: Set the color of the Sydney session
• Sydney Fill: Enable/disable filling Sydney dialog box
• Sydney start time (HH:MM): Set the start time of Sydney session
• Sydney end time (HH:MM): Set the end time of Sydney session

Tokyo Session

• Tokyo Zone: enable/disable Tokyo zone
• Tokyo color custom: Set the color of Tokyo time period
• Tokyo Fill: Enable/disable filling Tokyo dialog box
• Tokyo start time (MM:SS): Set the start time of Tokyo session
• Tokyo end time (MM:SS): Set the end time of Tokyo session

Europe Session

• Europe Zone: Enable/disable Europe Zone
• European color customization: Set the color of the European time period
• Europe Fill: Enable/disable filling in Europe dialog box
• European start time (MM:SS): Set the start time of the European session
• European end time (MM:SS): Set the end time of the European session

London Session

• London_Zone: enable/disable London zone
• London color customization: Set the color of the London session
• London Fill: Enable/disable filling London dialog box
• London start time (MM:SS): Set the start time of London session
• London end time (MM:SS): Set the end time of London session

New York Session

• Newyork Zone: enable/disable New York zone
• New York color customization: Set the color of New York time period
• Newyork Fill: Enable/disable filling New York dialog box
• New York Start Time (MM:SS): Set the start time of the New York session
• New York end time (MM:SS): Set the color of the New York period

Conclusion

The dialog box indicator is one of the ICT styles available for MetaTrader 4.

It is a powerful tool for traders and investors in financial markets as it displays timing in different markets, improving analytical accuracy and risk management.

Using this indicator, traders can identify the highs and lows of the trading session and check the status (open or close) and start and end time of each session with the help of the timing panel.