The Clock indicator is a vital tool for any trader. You can download it absolutely for free and add it to your MT4 platform.
First of all, let’s find out why a trader needs a clock. As you probably know, global trading is done in three major trading sessions (Asian, European, and American). Once each of these trading sessions opens, new traders come to the market. This means that the market situation may change in a second. For example, an asset may have different volatility during different trading sessions. Naturally, a smart trader must be ready for this. This is why it’s so important to monitor session openings.
This is how the Clock indicator should look on your MT4 chart:
The indicator shows us the time at the world’s biggest stock exchanges in Tokyo, London, and New York:
- Tokyo (Asian session),
- London (European session),
- New York (American session).
Clock is installed and added to MT4 like any other indicator. Instead of the standard installation process, let’s focus on the settings available in this useful indicator.
For your convenience, I numbered the settings 1 through 10 (see the screen shot above). “True” value means that the setting is enabled. “False” value means that the setting is disabled.
- Show the trader’s local time.
- Choose where to display the clock on your chart:1 – right upper corner; 2 – left lower corner; 3 – right lower corner.
- Another setting to determine the position of a clock. The bigger the number, the lower the clock will be located on the screen.
- Select the colors for the three main cities (Tokyo, London, New York).
- Select the color of the clock.
- Choose between a 12-hour and 24-hour clock.
- Show the Tokyo time.
- Show the London time.
- Show the New York time.
- Show the GMT.
As you can see, managing the Clock settings is surprisingly easy. By the way, another great tool to track trading sessions is I-sessions. Be sure to check it out! Here is a piece of advice I’d like to give to all traders. If you’re not using an indicator in your trading directly, you should better add it to a separate window in your MT4. This is how you avoid clogging your charts with too much information.