Time Range Separator Indicator
Time range separator indicator for MT5 shows the period separators on your chart to get clear time picture for your trading.
Description
The Time Range Separator Indicator for MetaTrader is a custom indicator that uses vertical lines to divide a chart into different time ranges. It is similar to the regular dot separator, but differs in function. It shows trading activity on different timeframes, and period separator shows different trading periods.
The indicator essentially splits the lower time frame candles into a time range that reflects the higher time frame range.
This will help you easily switch between different timeframes to see the trading activity of the H4 candle (for example) on lower timeframes.
What is a period separator in MT5?
Period separators are vertical lines that show the boundary between different trading periods. In other words, it shows a chart of trading activity for a certain period (eg M30, H1, etc.).
The line of the indicator was plotted using Greenwich Mean Time (GMT) set to 0 by default. It can be changed according to your trading time. In addition, the indicator is suitable for beginners, intermediate and advanced forex traders.
How to use the Time Range Separator indicator
The screenshot above shows how the time range separator will look on an MT5 chart once installed. It shows the CADCHF chart on the M30 timeframe, which reflects the cumulative candle formed on the H4 timeframe.
Please note that the indicator is not a tool that generates signals for BUY/SELL entries, but simply divides your chart into different time ranges.
Conclusion
The Time Range Separator Indicator for MT5 is a trading tool that helps to split higher time frame trading activity into different time ranges. Finally, it’s free to download.