Opening Hours Vertical Levels

Indicator of vertical lines on the timeframes М5 and М1. It draws the lines for the period of the current day and the previous day.

This indicator visualizes visually shows the trader the beginning and end of the chart hour, as well as the past hourly periods, 30-minute and 5-minute chart intervals.

The advantage provided by this indicator is that the trader using this indicator on a chart of a currency pair with the smaller timeframe will always be aware of when the new hour begins.

On the concept of time and timeframe

It is common knowledge that a timeframe is a time interval considered in technical analysis of free financial markets, during which the price and other market data changes occur when the price charts are plotted.

In the metaTrader 4 trading terminal, daily periods are separated by vertical dashed line, which can be enabled or disabled by simply pressing the "Ctrl + Y" key combination. This indicator also lines up the smaller periods inside the day, placing a time stamp on the horizontal time scale, in case this option is enabled in the input parameters.

Indicator Parameters

• Display vertical lines only – show vertical lines only on one day or two days, default: OneDay.
• The vertical line ( 60 minutes ) – enable the vertical line for 60 minutes, default: true.
• No show the time stamp – hide the time stamp for the hourly opening levels, default: true.
• Color this vertical line – color of this vertical line, default: DimGray.
• Style this vertical line – style of this vertical line, default: Dot.
• Width this vertical line – width of this vertical line, default: 1.
• The vertical line ( 30 minutes ) – enable the vertical line for 30 minutes, default: true.
• Color this vertical line – color of this vertical line, default: DarkGray.
• Style this vertical line – style of this vertical line, default: Dot.
• Width this vertical line – width of this vertical line, default: 1.
• The vertical line ( 5 minutes ) – enable the vertical line for 5 minutes, default: true.
• Color this vertical line – color of this vertical line, default: PowderBlue.
• Style this vertical line – style of this vertical line, default: Dot.
• Width this vertical line – width of this vertical line, default: 1.
• Colors vertical line of the beginning days – color of the separation vertical lines of the beginning of days, default: MediumSeaGreen.
• Styles vertical line of the beginning days – style of the separation vertical lines of the beginning of days, default: Solid.
• Width vertical line of the beginning days – width of the separation vertical lines of the beginning of days, default: 2.

Note: the indicator will be useful for intraday trading on the timeframes not higher than М5.

When working on the higher timeframes, the vertical levels are not displayed.