In this article, we delve into the functionalities of the Session Map tool, which provides a visual representation of trading sessions overlaid with real-time market data.
- News markers
- Floating P/L, account information, and color-coding
- Session bars
The Session Map shows your current local time in relation to “sessions” during the trading day, i.e. the core trading hours when institutional dealers are most active in Sydney, Tokyo, London and New York.
(For example, Tokyo trading is defined as 11pm GMT to 8am GMT, or 8am to 5pm Tokyo time.)
The Session Map also shows markers for future news events; information about your floating P/L and equity; and price activity during each session.
Please note: the current time is taken from your computer clock, and its accuracy depends on your computer clock being accurate.
How to Install Session Map Indicator?
To download and install the Pro Trading Tools please follow these steps:
1. Login to FXTM profile > Hub > Pro Trading Tools
2. Download FX Blue or Trading Central for your Platform (Meta Trader 4 or Meta Trader 5)
3. Run the downloaded FX Blue and Trading Central files and apply them to your chosen MetaTrader Platform when prompted.
4. Relaunch the MetaTrader platform. You’ll find your FX Blue* and Trading Central tools in the ‘Navigator panel under ‘Indicators’ and/or ‘Expert Advisors’.
Note: FX Blue tools will appear in MetaTrader labeled as FXTM or Figaro app suite.
News markers
The bar at the bottom of the map shows markers for future news events, e.g. non-farm payroll. (Items to the right of the current time are not in the past: they are a long way into the future.)
Each marker is color-coded to indicate its importance: red for high-impact events; orange for medium; and gray for low.
You can hover the mouse over a marker to display a tooltip showing what the event is, and you can click on a marker to see that text in full. For example:
Floating P/L, account information, and color-coding
The box at the top of the map shows the current floating P/L on your account (if any). In the example above, the floating P/L is a loss of TODO.
The map is color-coded depending on the floating P/L: green for profit; red for loss; gray if no open position.
You can get a summary of your account by clicking on the P/L box. For example:
Session bars
If you hover the mouse over a session bar such as “Sydney”, you will see a tooltip showing the current local time in Sydney and how long it is until core trading opens or closes in that region.
You can also click on a session bar to show a summary of price action for major symbols during that session.
The following example shows the most recent trading in Tokyo. EURUSD fell 5.5 pips during the session, with a trading range of 26.2 pips, closing at 1.3688.
Note: the prices used in the Session Map are an average of multiple brokers and may differ very slightly from the prices displayed by your broker.
