Forex Kill Zones Indicator is a smart money indicator that displays ICT Kill Zones. This indicator, tailored explicitly for the MT4 platform, provides visual cues for the most crucial trading times, allowing traders to understand price action better and identify potential trade setups within the Inner Circle Trader (ICT) framework.
Features of the Kill Zones Indicator
- Session Highlights: The Kill Zones Indicator visually marks the Asian Session, London open, and New York open, commonly called the ‘Kill Zones’.
- New York Time Markers: It highlights the New York midnight open time (12 am), the 8:30 am news time, and the New York Stock Exchange (NYSE) 9:30 am open.
- Time Zone Adjustments: The indicator automatically adjusts to your time zone and uses New York time for all its entries.
- Local Time Converter: It displays your local (computer) time and New York time on every candle through a hover window.
What are ICT Kill Zones?
For those familiar with the ICT trading methodology, it’s well-known that certain times of the day present more lucrative trading opportunities. These prime trading windows are termed ‘Kill Zones’ by ICT, predominantly occurring during the London and New York open sessions.
The specific times for these sessions are:
- Asian Session: 6 pm to midnight
- London Open: 2 am to 5 am
- New York Open: 7 am to 10 am
All times mentioned are in New York time. ICT Kill Zones Indicator is primarily designed for the M15 chart but can also be beneficial on the M5, M30, or H1 charts.
During these Kill Zones, traders seek the ‘smart money’ to tap into ‘liquidity pools’ located at previous swing points, typically from the previous session, to drive their intended moves for the day. For instance, a trader with a daily bullish bias for a particular instrument might anticipate a bearish ‘stop hunt’ during the London open session.
This Smart Money Concept Indicator isn’t a standalone trading indicator System. Still, it can be very useful for your trading as additional chart analysis, to find trade exit position(TP/SL), and more. While traders of all experience levels can use this system, practicing trading on an MT4 demo account can be beneficial until you become consistent and confident enough to go live. You can open a real or demo trading account with most Forex brokers.
The MT4 Kill Zones Indicator can be used on any Forex currency pair and other assets such as stocks, commodities, cryptos, precious metals, oil, gas, etc. You can also use it on any time frame that suits you best.
How to Use the Forex Kill Zones Indicator
- Local Time Converter: To view your local time, hover your mouse at the top left of any candle (or wick). This will trigger the ‘candle hover window’, showing both your local and New York time for that candle.
- New York Highlight Times: The Forex Kill Zones Indicator places perforated yellow lines on the M15 chart to mark:
- New York Midnight Open time
- 8:30 am New York NEWS time
- 9:30 am NYSE open time
- The New York Midnight Open: ICT emphasizes the importance of highlighting the New York ‘midnight open’ time on charts. Trade setups that leverage this time primarily focus on USA-based Indexes and USD currencies.
- For a bearish New York ‘Midnight Open’ trade setup (and vice versa for bullish):
- There’s a bearish daily expectation.
- The market rallies above the NY Midnight Open price at 8.30 am (New York time).
- Price taps into internal liquidity above old highs, then turn bearish.
It’s essential to note that these setups won’t always occur, but having these crucial ‘New York Times’ highlighted on the M15 chart will help traders spot them when they do. Also, while the 9:30 am highlight line is mainly for USA-based Indices, it doesn’t usually impact currency pairs as much.
In conclusion, the Kill Zones Indicator is an invaluable tool for traders looking to capitalize on the ICT trading methodology. By visually marking the most critical trading times and providing insights into potential trade setups, this indicator can significantly enhance a trader’s ability to navigate the markets effectively.