TrendSpider provides the traders with a Session Marker option that simplifies the way time is viewed on the chart with respect to the trading. Enabling Session Marker will divide the chart with vertical lines into the specified period as you adjust the time frame. In this documentation, we will explore:
- How to Enable Session Marker
- Why Session Marker is Important
Let’s get started 🚀
How to Enable Session Marker
Session Marker is not a default setting on the TrendSpider platform, and hence you will need to enable it manually by simply clicking on the Session Marker button as can be observed in the snippet below.
As a result of this action, the chart would be segregated into periods via vertical lines. Please refer to the table below to understand how Session Marker divides the chart based on your timeframe selection:
|Timeframe||Segregation on Chart|
|4 Hours & Below||The Session Marker will plot vertical lines One day apart|
|Daily||The Session Marker will plot vertical lines a Month apart|
|Weekly||The Session Marker will plot the vertical lines a Year apart|
|Monthly||The Session Marker will plot the vertical lines a Year apart|
**Note: If the timeframe is less than an hour, the vertical lines will still display a daily division.
Why Session Marker is Important
If you will try to navigate a month on a Daily time frame, it would take a lot of effort and struggle to carefully look at the bottom area and point it. Session Marker makes this job easier by segregating the chart through vertical lines into the specified period.
However, the scope of Session Marker is not simply limited to simplifying the periods for the eyes but it also helps the traders to easily graph the Support & Resistance (S&R) levels on the chart. S&R are predetermined price levels of a symbol at which it is believed that the trend in the price has a huge probability of halting or changing the direction.
It is an immensely popular concept but plotting these movements on the chart can be a difficult job, especially for beginners. This is where the Session Marker can help by allowing you to view every turning point like swing lows or swing highs as possible horizontal support or resistance level. Doing this on a naked chart is usually a random attempt but if the chart is divided with the accurate time divisions, then it is done with the confirmation because S&R levels are incorporated according to the time.