Accurate Daily Identification Indicator - Professional Session Analyzer

Overview

The Accurate Daily Identification indicator is a sophisticated MT4 tool that visually marks key trading sessions and price ranges on your chart. It helps traders identify:

Daily high/low ranges (or open/close ranges)

Important trading sessions (Asian, European, US)

Breakout zones with alert capabilities

Key Features

✅ Customizable Session Markers - Visually separates trading sessions with colored rectangles

✅ Dual-Period Analysis - Tracks both initial (Period A) and extended (Period B) price ranges

✅ Breakout Alerts - Configurable alerts when price breaks key levels

✅ Multi-Day Display - Shows up to 50 days of historical ranges

✅ Flexible Time Settings - Adapts to different timezones and session hours

How It Works

The indicator creates several visual elements:

1. Price Range Boxes

Main Box (Blue/Pink): Shows daily high-low or open-close range

Period A Box (Red): Marks initial trading period (configurable hours)

Period B Box (Purple): Marks extended trading period

2. Breakout Zones

Upper Band (Light Blue): Potential breakout/resistance area

Lower Band (Light Blue): Potential breakdown/support area

3. Reference Lines

Green dashed line: Session open price

Red dash-dot line: Session close price

Indicator Settings

ParameterDescriptionRecommended Value

NumberOfDaysHow many days to display20-50

periodA_beginStart of Period A"00:00" (midnight)

periodA_endEnd of Period A"12:00" (noon)

periodB_endEnd of Period B"23:59" (end of day)

rectAB_color1Main box color (bullish)PowderBlue

rectAB_color2Main box color (bearish)LightCoral

rectsB2_bandBreakout band width (pips)5-10

How to Trade with This Indicator

Range Trading Strategy

Wait for price to approach either edge of the main box

Look for reversal patterns at these levels

Enter with stop just outside the box

Target the opposite side of the box

Breakout Strategy

Monitor the upper/lower breakout bands

Enter when price closes outside these bands

Use the band width as initial stop

Target previous day's high/low as first profit point

Session Trading

Note where current price is relative to Period A range

Trade breakouts from Period A range during Period B

Watch for reversals at session boundaries

Indicator Philosophy

🔹 "Master the day's rhythm - trade the ranges by day, catch the breakouts by night!"

This indicator is perfect for traders who want to:

Understand daily price structure at a glance

Trade session-based ranges

Catch breakouts with visual confirmation

Pro Tips

Combine with Volume - Only trade breakouts with increasing volume

Adjust for Your Market - Modify session times to match your traded instruments

Use Higher Timeframes - Works best on H1/D1 charts

Watch for "Inside Days" - When today's range is within yesterday's, expect breakout

🚀 Example Setup:

EURUSD H1 chart

Period A: 08:00-16:00 (London session)

Period B: 16:00-23:00 (NY overlap)

Breakout bands: 5 pips