Knowing the time remaining in a candle can be very useful in many occasions. The Metatrader platform shows you the current time but it does not show you the elapsed time since the start of the candles. Metatrader also does not show the remaining time in the current candle either. The Candle Timer Indicator for Metatrader can help you with this.
What Is The Candle Timer Indicator For Metatrader
The Candle Timer Indicator For Metatrader is available for both the MT4 and MT5 platform and it is very useful when the timing of the entry and exit is very important for a trade.
The Candlestick Timer for MT4 and MT5 allows you to see on chart the elapsed time since the start of the candle and the remaining time before the next candle starts forming.
Other than a visual representation of the candle timer, this indicator can also alert you with some notice before the candle closes.
The MT4 and MT5 Candle Timer Indicator can be useful in the following situations.
Two Types Of Trade
In trading you can usually identify two types of trades, perhaps three. These Types are divided by the duration of the trades.
These types are:
- Short Term, lasting less than a day
- Medium Term, lasting a few days
- Long Term, lasting several days or weeks
In medium and long term trades the entry timing can span in hours or days, however, if you are involved in short term trades the timing is one of the most important aspects of entry and exit.
This is why knowing when the candle is going to close can help.
Candle Timer For Candlestick Pattern Strategies
If you like trading using candlestick patterns you might want to know when a candle is about to close. This will allow you to check if a known pattern formed and if there is a trading opportunity.
The Candlestick Timer Indicator can alert you before the closure of the candle so you can be prepared for your chart analysis.
Geographic Market Open And Close
As you know the Forex Market runs 24h a day closing only during the weekend.
The market activity is higher during the day of geographical location and many strategies are based on specific behaviours happening at market open or market close.
The Candle Timer Indicator For Metatrader can assist you in be prepared for a market open and/or a market close.
News And Events
Many trading strategies are based on trading news and events.
If you are using one of these strategies you probably want to know how the market reacts to a scheduled event or news.
You can set the candlestick timer for Metatrader to alert you before the time of a scheduled news so you can check the market response to it.
Features Of The Candle Timer Indicator For MT4 And MT5
The Candle Timer Indicator For MT4 and MT5 has some useful features.
You can choose between:
- Minimal Interface, with only a small countdown to the next candle
- Extended Interface, which includes some information about the current instrument, the elapsed time since the start of the candle and the remaining time for the current candle
You can configure the indicator to send you an alert a set seconds before the candle closes.
Notifications can be sent to the following:
- On Screen Alert
- Mobile App
Download The Candle Timer Indicator For Metatrader
If you search for a Candle Timer Indicator you can see how there are many options available, however, it is a very personal choice and it really depends on the options that you are looking for.
I decided to create an indicator easy to use and able to show a countdown and alert the trader and you can download it for FREE.
In this article you discovered the Candle Timer Indicator for MT4 and MT5 and how it can be useful in your trading.
You also have some download links for our version of the indicator so that you can download it and test it.
If you liked the article or have any questions please feel free to Comment Below Or Contact Us.