Metatrader 5 Indicator | London Breakout: Asian Range Box | Source Code Included

The indicator calculates the range for the Asian session (by default 00:00–07:00 UTC) for each day and plots it as a rectangle. The idea is simple: the market forms a range overnight, and often breaks out of it when the London session opens.

During the breakout window (by default 07:00–11:00 UTC) the indicator places a BUY or SELL arrow on the first closed candlestick outside the range plus a buffer (10 per cent of the range) and draws the following levels:

• stop: the midpoint of the range or its opposite boundary;
• target: entry price ± range × multiplier (default 1.5).

Input parameters:

• InpServerUtcOffset — the time difference between the broker’s server and UTC in hours (MetaQuotes-Demo: 3 in summer, 2 in winter);
• InpRangeStartUtc / InpRangeEndUtc — hours of the Asian trading session, UTC;
• InpTradeEndUtc — end of the breakout window, UTC;
• InpBufferPct — breakout buffer, as a percentage of the range;
• InpTpMult — target as a fraction of the range;
• InpStopOpposite — stop at the opposite boundary instead of the midpoint;
• InpOneSignal — no more than one signal per day;
• InpAlerts — pop-up and push notifications;
• InpBoxColor — rectangle colour.

Recommended timeframes: M5–M15; instruments: GBPUSD, EURUSD, XAUUSD. Signals appear only on closed candlesticks and are not redrawn.

The indicator visualises the well-known concept of a session breakout and does not guarantee a profit.