Conversation Box Indicator Download for MetaTrader 5 - Free | Forex Indicator Download - MT4/MT5 Resource

The Session Box indicator is one of the session and termination area indicators for MetaTrader 5.

It allows traders to view the exact opening and closing times of various financial markets based on central bank working hours.

This indicator shows the status of each item (open or closed) as well as the start and end time of the trading session via an information panel, providing traders with the status of each session.

Additionally, this tool displays the high and low price ranges of each trading session by drawing colored boxes on the price chart, which is very useful for traders to identify market trends and volatility.

This information enables users to identify trading instruments with suitable volatility and optimize their trading strategies accordingly.

dialog box indicator table

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

Indicators at a glance

The session box indicator displays the opening and closing status of a trading session, allowing traders to identify price action during each session.

Many trading instruments and financial assets exhibit high volatility and liquidity at certain times of the day, especially during certain trading sessions.

Understanding and identifying trading sessions allows traders to optimize entry timing and avoid trading during periods of low volatility and market volatility .

The indicator provides a floating time panel that displays information such as the status (open or close), start time, and end time of each period, allowing traders to perform more precise market analysis and identify the best trading opportunities.

Price movement and the beginning of a bullish trend

The session box indicator displays the opening and closing status of each trading session using colored boxes, allowing traders to identify the highs and lows of each trading session.

The range of private rooms is determined based on the highest and lowest prices during the opening period.

On the 15-minute EUR/USD chart, we observe sharp moves in the US dollar due to high liquidity during the New York session.

The highs and lows formed during the European session (London) are especially important for New York session traders.

Prices started to fall during the New York session , after breaking out of the London session lows, accumulating some liquidity and moving upwards.

This move continued after the New York session ended, causing the market trend to change from bearish to bullish.

Price movement and the beginning of a bearish trend

The Session Box indicator displays the highs and lows of each trading session by drawing colored boxes.

The ranges for these boxes are determined based on the opening times of the Frankfurt and London central banks and the highest and lowest prices during that time period.

The European session begins with the opening of Frankfurt and the London session one hour later, which together form the European session.

On the GBP/JPY chart, prices entered a bearish trend during the European session after breaking above the Sydney session lows.

Subsequently, as the price trend turned bearish during the New York session, a pullback occurred near the breakout level, coinciding with the closing hours. London session .

After this pullback, the price continued its bearish trend and headed towards a breakout level.

Conversation box indicator settings

The dialog box indicator is set up as follows:

Variable

• Previous Candles: Set the number of candles used for calculation
• ShowPanel: Enable/disable indicator panel
• Background: Set the 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 Conversation Box indicator is one of the ICT indicators for MetaTrader 5. It is very useful for traders in financial markets, especially in Forex Market.

By using a time panel and displaying the start and end times of each trading session, this indicator enables traders to identify trading opportunities and perform more professional analysis.