SessionRangeBoxes - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources

This Session Range Box indicator automatically plots colored high/low range boxes for the three major Forex trading sessions (Asia, London and New York) directly on the price chart. For each past allocation day, the indicator scans the M1 bar within the session time window and marks the exact highs and lows with filled rectangles. This provides traders with a clear visual reference of where the price contains each session, making it immediately apparent when the current session breaks out of the previous range.

This indicator is based on a concept widely used by professional traders: session-wide analysis. Many institutional players planned their entries around the highs and lows established during the Asian session, waiting for London or New York to breach these levels. By covering all three trading sessions simultaneously, traders can compare range sizes, identify areas of overlap, and predict possible breakout directions at a glance.

The built-in statistics panel in the upper left corner shows the average spread range for each session, calculated based on the number of days configured in the past. This average helps traders set realistic targets and stops based on typical trading volatility. Optional breakout alerts trigger when price exceeds any trading box boundary, supporting a rules-based approach to breakout trading.

Apply the indicator to any Forex pair on any time frame. Boxes are always calculated internally based on M1 data, so the active chart timeframe does not affect accuracy. The recommended views are H1 or H4 for a clear overview of multiple days at once.

Reading box:

Attachment download

📎SessionRangeboxes.mq5 (21.98 KB)

Source: MQL5 #69586