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

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

The indicator marks the time range between 00:00 and 07:00 on the chart, allowing traders to identify price accumulation areas (ranges).

Xi Asian session indicator table

The general characteristics of the Xi Asian session indicator are shown in the table below:

Xi Asian Session Indicators at a Glance

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

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

In this case, traders can use two trading strategies :

• Breakout range, enter immediately after the candle closes outside the range;
• On a pullback from this range, traders wait for price to return to the specified range and enter upon receiving valid confirmation.

Xi Asian session indicator bullish trend

In an uptrend, a reversal strategy based on this indicator, within the post-breakout Asian session , traders wait for price to return to the breakout level to confirm the validity of the breakout.

A trade entry will only occur when a valid price action signal occurs, such as the formation of a Pin Bar candle (shown below).

Bearish Trend in Xi Asian Session Indicator

In the bearish case, during the Asian session, the price consolidated within the range, and as the market began the New York session , a bearish breakout was confirmed when a strong candle closed below the range.

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

Xi Asian Session Indicator Settings

The image below shows the settings panel of the Xi Asian session indicator:

Info1

• Conference opening hours : Asian session start time
• Conference closing time : end of Asian session
• Alerts when the range exceeds the range alarm threshold: triggers an alert when the Asian session price range is exceeded
• Range Alarm Threshold : Range Alarm Threshold
• Display the label of the current channel range : Display the label of the current range
• Label color for current channel range : Color of label for current range
• Number of times the session channel was plotted on the chart in the past days : Number of times in the past days the session channel was plotted on the chart

Info2

• Draw a vertical line to indicate the end of a session : Draw a vertical line to indicate the end of a session
• Session end timeline color : Session end line color
• Session end timeline style (0 – 4): Session end line style
• Session End Timeline Width: Session Close Line Width
• Session end timeline label: Label for the session end line

Info3

• Draw a vertical line to indicate the end of the session : Show Draw a vertical line to indicate the end of the session
• Session end timeline color : Displays the color of the session end line
• Session end timeline style (0 – 4): Displays the style of the session end line
• Session End Timeline Width : Shows the width of the session end line
• Label for session end timeline : Show label for session closing row

Conclusion

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

This trading tool uses two main strategies, breakout and pullback, to enter buy and sell trades.