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Session Analysis Professional

1. Summary (Introduction)

The Session Analysis Pro is an advanced, multi-faceted analytical tool designed to visualize and analyze price action within specific, user-defined trading sessions. It is particularly useful for traders who focus on the dynamics of the major market opens.

This powerful indicator can simultaneously display and analyze up to three independent markets (e.g., NYSE, LSE, TSE), each with its own customizable Pre-Market, Core, Post-Market, and optional Full Day sessions.

For each defined session, the indicator can display several key analytical components:

  1. Session Range Box: A rectangle encompassing the high and low of the session.
  2. Volume Weighted Average Price (VWAP): The true average price for the session, weighted by volume, rendered using a high-performance, buffer-based drawing method for maximum speed and stability.
  3. Mean Price: The simple arithmetic average of the selected source prices within the session.
  4. Linear Regression Line: A statistical trendline showing the "best fit" line for the session's price action.

The indicator is highly customizable and fully supports both standard and Heikin Ashi data sources for its calculations.

2. Calculation Logic

The indicator identifies bars belonging to a specific time window and performs distinct calculations on the data within that session.

  1. Session Range: Identifies the highest High and lowest Low within the session's time boundaries and draws a rectangle around them.
  2. Volume Weighted Average Price (VWAP): Calculates the cumulative, volume-weighted average of the Typical Price (H+L+C)/3, resetting at the start of each new session. The calculation is performed by a dedicated, optimized engine.
  3. Mean Price: Calculates the simple arithmetic average of the user-selected Source Price for all bars within the session.
  4. Linear Regression Line: Calculates the "least squares fit" trendline on the user-selected Source Price.
    • Note on Matching Built-in Tools: The standard MetaTrader Standard Deviation Channel object calculates its centerline based on PRICE_CLOSE. To perfectly match the built-in object's trendline, select PRICE_CLOSE as the Source Price in the indicator settings. Our indicator's flexibility allows you to analyze regression based on other price types as well.

3. MQL5 Implementation Details

Our MQL5 implementation follows a modern, robust, and high-performance hybrid architecture to provide a smooth, freeze-free user experience.

  • Hybrid Drawing Architecture: The indicator uses two distinct systems, each optimized for its specific task:

    • VWAP via Indicator Buffers: All VWAP calculations are handled by a dedicated CVWAPCalculator engine. This engine writes its results directly into MQL5's fastest drawing mechanism: indicator buffers (DRAW_LINE). We use the "double buffer" technique to create clean visual gaps between sessions.
    • Boxes & Stats via Graphical Objects: The Session Box, Mean, and Linear Regression lines are drawn using standard graphical objects (OBJ_RECTANGLE, OBJ_TREND). This is handled by a separate CSessionAnalyzer class, providing flexibility for these elements.

  • Unified Heikin Ashi Integration: When CANDLE_HEIKIN_ASHI is selected, the indicator uses a unified approach. Both the CVWAPCalculator and the CSessionAnalyzer instantiate their respective _HA child classes. This ensures that all visual components—the VWAP lines, the session range boxes, the Mean, and the Linear Regression lines—are consistently calculated using the smoothed Heikin Ashi data.

  • Robust Multi-Instance Support: Each instance of the indicator on a chart generates a unique, stable ID for its graphical objects using the ChartWindowFind() method. This ID is used as a prefix for all object names, ensuring that multiple copies of the indicator can run on the same chart without any conflicts.

  • Robust Cleanup on Re-initialization: To prevent "ghost" objects or line fragments after a timeframe change or parameter edit, the indicator employs a strict two-phase cleanup process:

    1. Object Cleanup: In OnInit, it immediately deletes all graphical objects associated with its unique instance ID from the chart.
    2. Buffer Cleanup: At the beginning of every new bar calculation in OnCalculate, it explicitly clears all 24 VWAP buffers by filling them with EMPTY_VALUE. This "clean slate" approach guarantees a perfect and stable redraw under all conditions.

  • Efficient "On New Bar" Updates: All calculations and redraws are executed only once per bar, preventing unnecessary CPU load on every tick.

4. Parameters

  • Global Settings:

    • InpFillBoxes: Toggles whether the session range boxes are filled or drawn as outlines.
    • InpVolumeType: Selects between Tick Volume and Real Volume for all VWAP calculations.
    • InpCandleSource: Selects the candle type (Standard or Heikin Ashi) for the VWAP calculation.
    • InpSourcePrice: The source price for the Mean and Linear Regression calculations.

  • Market Settings (Market 1, Market 2, Market 3):

    • Enable: A master switch to turn all analysis for that market on or off.
    • Session Settings (Pre-Market, Core, Post-Market, Full Day):
      • Enable: Turns the analysis for that specific session on or off.
      • Start / End: The start and end times for the session in "HH:MM" format, based on the broker's server time.
      • Color: The color for all graphical elements (box and VWAP line) drawn for that session.
      • VWAP / Mean / LinReg: Toggles the visibility of each analytical component for that session.

5. Trading Session Times Reference

This section provides a detailed reference for the trading hours of major global exchanges to help configure the indicator.

IMPORTANT: All times are listed in various time zones for comparison. You must use the times that correspond to your broker's server time in the indicator settings. Be aware that you may need to adjust these times twice a year due to Daylight Saving Time (DST) changes.

New York Stock Exchange (NYSE)

  • Time Zone: Eastern Time (ET)
  • DST (USA) in 2025: Starts March 9, Ends November 2.

Summer (EDT, UTC-4)

Time Zone Pre-Market Core Trading Post-Market
New York (EDT) 06:30–09:30 09:30–16:00 16:00–20:00
UTC 10:30–13:30 13:30–20:00 20:00–00:00
Nicosia (EEST, UTC+3) 13:30–16:30 16:30–23:00 23:00–03:00
Budapest (CEST, UTC+2) 12:30–15:30 15:30–22:00 22:00–02:00

Winter (EST, UTC-5)

Time Zone Pre-Market Core Trading Post-Market
New York (EST) 06:30–09:30 09:30–16:00 16:00–20:00
UTC 11:30–14:30 14:30–21:00 21:00–01:00
Nicosia (EET, UTC+2) 13:30–16:30 16:30–23:00 23:00–03:00
Budapest (CET, UTC+1) 12:30–15:30 15:30–22:00 22:00–02:00

London Stock Exchange (LSE)

  • Time Zone: GMT / BST
  • DST (Europe) in 2025: Starts March 30, Ends October 26.

Summer (BST, UTC+1)

Time Zone Pre-Market Core Trading Post-Market
London (BST) 05:00–08:00 08:00–16:30 16:30–17:15
UTC 04:00–07:00 07:00–15:30 15:30–16:15
Nicosia (EEST, UTC+3) 07:00–10:00 10:00–18:30 18:30–19:15
Budapest (CEST, UTC+2) 06:00–09:00 09:00–17:30 17:30–18:15

Winter (GMT, UTC+0)

Time Zone Pre-Market Core Trading Post-Market
London (GMT) 05:00–08:00 08:00–16:30 16:30–17:15
UTC 05:00–08:00 08:00–16:30 16:30–17:15
Nicosia (EET, UTC+2) 07:00–10:00 10:00–18:30 18:30–19:15
Budapest (CET, UTC+1) 06:00–09:00 09:00–17:30 17:30–18:15

Frankfurt Stock Exchange (Xetra)

  • Time Zone: CET / CEST
  • DST (Europe) in 2025: Starts March 30, Ends October 26.

Summer (CEST, UTC+2)

Time Zone Pre-Market Core Trading Post-Market
Frankfurt (CEST) 08:00–09:00 09:00–17:30 17:30–20:00
UTC 06:00–07:00 07:00–15:30 15:30–18:00
Nicosia (EEST, UTC+3) 09:00–10:00 10:00–18:30 18:30–21:00
Budapest (CEST, UTC+2) 08:00–09:00 09:00–17:30 17:30–20:00

Winter (CET, UTC+1)

Time Zone Pre-Market Core Trading Post-Market
Frankfurt (CET) 08:00–09:00 09:00–17:30 17:30–20:00
UTC 07:00–08:00 08:00–16:30 16:30–19:00
Nicosia (EET, UTC+2) 09:00–10:00 10:00–18:30 18:30–21:00
Budapest (CET, UTC+1) 08:00–09:00 09:00–17:30 17:30–20:00

Tokyo Stock Exchange (TSE)

  • Time Zone: Japan Standard Time (JST), UTC+9 all year.
  • No Daylight Saving Time.
Time Zone Pre-Market Core Trading Post-Market
Tokyo (JST) 08:00–09:00 09:00–11:30 12:30–15:30
UTC 23:00–00:00 00:00–02:30 03:30–06:30
Nicosia 01:00–02:00 (W) / 02:00–03:00 (S) 02:00–04:30 (W) / 03:00–05:30 (S) 05:30–08:30 (W) / 06:30–09:30 (S)
Budapest 00:00–01:00 (W) / 01:00–02:00 (S) 01:00–03:30 (W) / 02:00–04:30 (S) 04:30–07:30 (W) / 05:30–08:30 (S)

Sydney Stock Exchange (ASX)

  • Time Zone: AEST / AEDT
  • DST (Australia) in 2025: Starts October 5, Ends April 6.

Summer (AEDT, UTC+11) (Oct - Apr)

Time Zone Pre-Market Core Trading Post-Market
Sydney (AEDT) 07:00–10:00 10:00–16:00 16:00–19:00
UTC 20:00–23:00 23:00–05:00 05:00–08:00
Nicosia (EET, UTC+2) 22:00–01:00 01:00–07:00 07:00–10:00
Budapest (CET, UTC+1) 21:00–00:00 00:00–06:00 06:00–09:00

Winter (AEST, UTC+10) (Apr - Oct)

Time Zone Pre-Market Core Trading Post-Market
Sydney (AEST) 07:00–10:00 10:00–16:00 16:00–19:00
UTC 21:00–00:00 00:00–06:00 06:00–09:00
Nicosia (EEST, UTC+3) 00:00–03:00 03:00–09:00 09:00–12:00
Budapest (CEST, UTC+2) 23:00–02:00 02:00–08:00 08:00–11:00

6. Usage and Interpretation

  • Contextual Analysis: The primary use is to understand the behavior of price during specific, high-volume trading sessions.
  • VWAP as a Benchmark: The VWAP line is a key level for intraday traders. Price action above the session VWAP is generally considered bullish; price action below is bearish.
  • Mean and Linear Regression: These lines provide a statistical "fair value" for the session. The slope of the regression line indicates the overall direction and strength of the session's trend.
  • Range Box: The high and low of the session box become critical support and resistance levels for subsequent trading sessions.
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