Do you want to create a Custom Session with TradeStation or MultiCharts? This tutorial is for you!
Sometimes there is a need to break the trading session.
Take as an example EURUSD or other Forex Instruments. You decide to trade only the session from 10 a.m. to 16 a.m. because you want to avoid all the periods with no volatility.
With the Custom Session, you eliminate an area from your chart; this area becomes a Gap.
How To create a Custom Session Chart with TradeStation
Let’s go! Right-Click on the chart to open the menu. Click on “Data” and “Edit Symbol”, then choose “Properties” and click on the right of “Session”.
Choose “Use Custom Session(s), click on “Create,” and insert a name for your new session.
Now click Add to insert the sessions for every day of the week.
In every window, insert the session name for the single day; you can use Sun – Mon – Tue – Wed – Thu – Fri.
Set Day and Time Start and Day and Time End. Remember to select “Use this session as the End of Trading Day Market”.
To do faster, you can create only the Sunday and click on “ADD Mon-Fri”. The system will create all-day sessions for you.
However, we suggest you change the names of the individual sessions that will all be called SUN.
How To create a Custom Session Chart with MultiCharts
If you are a MultiCharts User, this part of the tutorial is for you!
Open “New Quote Manager Window”, click on “Tools,” and choose “Session Templates”.
In Custom Session Templates, choose “Add” and insert every day of the week with the time slot and select “Session End”, when you finish, click OK.
Now, Right Click on Chart and select “Format Instrument”. Choose “Settings” and choose your custom session EURUSD 6 hours session.
Multiple Session in a Single Day
Suppose you want to create a session that includes European Stock Market openness and American Stock Market openness.
Insert two sessions every day and create the European and US sessions. Remember to click on “Use this Session as the End of Trading Day Marker” in the second session to close the day.