Asian Session Indicator
Asian Session (AS)
The AS is from the start of Wellington 2200 hrs. GMT to 0500 hrs. GMT. It is the price range of the current day’s high and low from Wellington Open to New York Midnight. Draw the high and the low between these times on a chart and mark with a channel. It can be used as a volatility indicator. If the width of the channel is less than 35 pips then this is low volatility (choppy) and it would be best not to trade my systems. The width of the channel must exceed 35 pips in order to begin trading that morning. This is designed to prevent you from trading in a choppy market.
as explained in my book your can look for a break out of consolidation from a Swing High or a Swing Low to trade.
The Asian Session can also act as an important area of support and resistance. The high and low lines establish support and resistance points which must be respected throughout the day. You’ll find price action stalling or bouncing off this area.