The real author:

Kim Igor V. aka KimIV

The i-ParamonWorkTime indicator. This indicator selects within 24 hours two periods of the highest market volatility. These periods values can be defined by the indicator input parameters:

//+-----------------------------------+
//|  INDICATOR INPUT PARAMETERS       |
//+-----------------------------------+
input int    NumberOfDays=5;            // Number of days in history
input string Begin_1     ="08:00";      // Start time 1
input string End_1       ="11:00";      // End time 1
input color  Color_1     =clrDarkBlue;  // Paramon color 1
input string Begin_2     ="14:00";      // Start time 2
input string End_2       ="17:00";      // End time 2
input color  Color_2     =clrPurple;    // Paramon color 2
input bool   HighRange   =false;

Working time for trading:

As a rule, the highest market volatility is 10.00 am - 01.30 pm MSK and 04.00 pm - 07.30 pm MSK. Frankfurt Stock Exchange opens at 10.00 am (it is also a strong stock exchange), at 11.00 am - London (all Europe enters the market). New York Stock Exchange opens at 4.00 pm, Chicago Stock Exchange opens at 5.00 pm (all the USA enters the market).

This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 26.09.2007.

Fig.1 the i-ParamonWorkTime indicator