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ShadeNY Session Channel Indicator for MetaTrader

Article MQL5 code base
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Summary

ShadeNY is a chart indicator that marks the time window of a trading session with a filled channel. Its configurable inputs set the session’s start and end times, while a horizontal shift moves the channel by a chosen number of bars. The description identifies the implementation as using drawing buffers to fill the region on the chart.

The source is described as an earlier MQL4 indicator, first published in 2007, and the supplied version is presented for MetaTrader 5. The document explains the display and its settings but provides no entry or exit rules, market-specific guidance, or evidence that session boundaries predict price behavior. Traders could use it to inspect how prices behave during chosen hours, but any strategy based on those observations would require separate testing. Its usefulness is therefore charting and time segmentation rather than a standalone trading signal.

Key ideas

  • The indicator displays a filled channel corresponding to a chosen session window.
  • Users can configure the start time, end time, and horizontal shift in bars.
  • The description concerns chart visualization and does not define a trading strategy.
  • No results or evidence are supplied for using session boundaries as predictive signals.

Tags

Technical indicatorsExecution

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.