The Trade Time Forex indicator for Metatrader 5 draws a time-sensitive box around the candlesticks, enabling traders to identify potential price breakouts.
By setting your preferred start and stop times, the indicator draws a box around the relevant candlesticks.
To effectively use the Trade Time indicator, adhere to these straightforward instructions:
- When a candle closes above the upper boundary of the box, it generates a buy signal.
- When a candle closes below the lower boundary of the box, it generates a sell signal.
This indicator comes with adjustable inputs and parameters, allowing you to customize settings such as trade start time, trade stop time, colors, and filling.
Make yourself familiar with the Trade Time Forex indicator and test it first on a demo account until you fully understand how it works.
It supports all time frames and trading instruments offered by the MT5 charting platform.
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trade_time.mq5 Indicator (MT5)
Trading Chart USDJPY H1
Here is how the Trade Time Forex indicator appears when applied to the MT5 chart.
How to Buy and Sell With The Trade Time Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the candle closes above the previous box’s high price.
- Execute a buy trade and place a stop loss below short-term support.
- Exit the buy position for a fixed take profit target of your preference, or await a sell signal.
Sell Signal
- A sell signal is given when the candle closes below the previous box’s low price.
- Execute a sell trade and place a stop loss above short-term resistance.
- Exit the sell position for a fixed take profit target of your preference, or await a buy signal.
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trade_time.mq5 Indicator (MT5)
MT5 Trading Strategy: Time-Optimized Trend Riding with Super Trend Hull
This strategy uses the Trade Time Forex Indicator to identify optimal trading sessions combined with the Super Trend Hull Forex Indicator to capture strong trending moves within those sessions.
This helps traders focus on the most volatile and high-probability timeframes while following clear trend signals.
Indicators Used
- Trade Time Forex Indicator: Highlights the best market sessions and trading hours for increased volatility and liquidity.
- Super Trend Hull Forex Indicator: Smooths price action and identifies trend direction with the Hull moving average method.
Timeframes
Works well on M15, M30, and H1 charts for intraday and swing trading.
Buy Entry Rules
- The Trade Time Indicator signals that the current session is active and optimal for trading (e.g., London or New York session).
- The Super Trend Hull indicator shows a bullish trend (price above Hull MA or green trend color).
- Enter a long trade on the candle close when both conditions align.
- Place a stop-loss below the recent swing low or below the Hull MA line.
- Set a take profit at the next resistance level or use a risk-reward ratio of 1.5 to 2.
Sell Entry Rules
- The Trade Time Indicator confirms an active and favorable trading session.
- The Super Trend Hull indicator indicates a bearish trend (price below Hull MA or red trend color).
- Enter a short trade on the candle close when both conditions are met.
- Set stop-loss above the recent swing high or above the Hull MA line.
- Target the next support or apply a fixed reward-to-risk ratio.
Strategy Tips
- Trade only during sessions flagged as active by the Trade Time Indicator to increase chances of volatility and liquidity.
- Confirm trend direction with the Super Trend Hull before entering trades.
- Avoid trading during low volatility sessions or when the Super Trend Hull shows sideways movement.
Conclusion
By combining session timing from the Trade Time Forex Indicator with trend confirmation from the Super Trend Hull Forex Indicator, traders can optimize entries for high-probability moves during the most active market periods.
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the trade_time.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
