Asian Range Highlighter Indicator MT4 | MT5

The Asian Range Highlighter is classified as a patterns-based indicator, that identifies a recurring price pattern, the high and low range of the Asian session, typically 12:00 AM to 8:00 AM GMT, that traders use to anticipate market behavior in the following sessions.

By displaying support and resistance levels on the MetaTrader chart, traders will plan their trades around potential breakouts or reversals during the European and US sessions, following one of these strategies:

• Breakouts:

- Bullish breakout: If the price, during the EU and US sessions, breaks above the resistance from the Asian session, it signals a continuation of the upward trend and a potential buying opportunity.

- Bearish breakout: If the price, during the future sessions, drops below the support level, it signals a continuation of the downward trend and a potential selling opportunity. 

• Range trading:

* If the price stays during the Asian range, indicating a low volatility market condition. Traders could benefit from this situation by entering short whenever the price bounces from the resistance level, and entering long whenever the price rebounds from the support level.

1. In the EURCHF trading example on MetaTrader 4, the indicator displays a blue range box presenting the highest and the lowest prices during the Asian session. Traders should first draw their support and resistance levels and wait for a confirmation to enter the market during the upcoming sessions. As the price drops near the resistance line, signaling a short opportunity for the trader. Conversely, when the price rebounds from the support line, indicating a buying opportunity. 

This situation is a real example of a range trading and how traders could benefit from it.

2. In the GBPUSD trading example on MetaTrader 5, the ARH displays two blue rage boxes indicating the lowest and the highest prices during two different Asian sessions. Traders should, before any trade decisions, daw resistance and support levels and wait for a confirmation. 

For the first box, when the price breaks above the resistance level, it signals a continuation of the bullish momentum and a strong buying opportunity.

For the second box, when the price drops below the support level, it signals a continuation of the bearish movement and a strong selling opportunity. Also, when the price rises above the support level, suggesting a long opportunity. However, as the price bounces from the resistance line, it indicates a bearish reversal and a potential short opportunity.