Code for All 4 Forex Sessions W/ Background Highlight!!!

The Code for All 4 Forex Sessions W/ Background Highlight indicator automatically identifies and visualizes the four major global trading sessions—New York, Australia (Sydney), Asia (Tokyo), and Europe (London)—to help traders monitor market liquidity and volatility transitions.

Usage

The Usage section describes how the script can be used to track market phases. By highlighting specific time ranges on the chart, traders can identify high-volume periods and session overlaps. For example, a trader can use the indicator to see exactly when the New York and London sessions overlap, which typically represents the highest liquidity period of the day.

The tool includes individual toggles for the opening, main duration, and closing periods of each session. This allows users to focus specifically on "Open" or "Close" ranges, which often act as catalysts for price action reversals or breakouts.

Details

The indicator is constructed using fixed time ranges based on the East Coast (New York) Time Zone (EST/EDT). It utilizes the time() function to detect whether the current bar falls within a predefined session window.

The script distinguishes between three phases for each session:

• Open: Highlights the first 10 minutes of the session with a higher opacity background.
• Session: Highlights the full duration of the session with a lower opacity background.
• Close: Highlights the final 10 minutes of the session to signal potential end-of-day volatility.

The sessions are defined as follows:

• New York: 08:00 - 17:00
• Australia: 17:00 - 02:00
• Asia: 19:00 - 04:00
• Europe: 03:00 - 12:00

Settings

• NY Open/Session/Close On: Toggles the background highlights for the New York session components.
• Aussie Open/Session/Close On: Toggles the background highlights for the Australian session components.
• Asia Open/Session/Close On: Toggles the background highlights for the Asian session components.
• Euro Open/Session/Close On: Toggles the background highlights for the European session components.

FAQ

How do I change the session times?

The current version uses hard-coded time ranges based on New York Time (EST). To change these, you must modify the time strings within the script's timeInRange function calls.

Can I set alerts for session starts?

Yes, the indicator includes built-in alert conditions that trigger at the beginning of the "Open" highlight and the beginning of the "Close" highlight for all four sessions.

How can I access this indicator?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.