Candle Time Indicator
Platform: MT4 Type: Informational Last update: December 28, 2024The Candle Time Indicator for MT4 helps users quickly determine how much time remains on a candlestick. This is a simple yet incredibly powerful and useful tool and many forex traders believe it should be a standard feature in the MetaTrader platform.
Essentially, this countdown timer shows how much time is left on the current candlestick before the next one forms. It’s broken to minutes and seconds, and it works across all timeframes and currency pairs.
How to use the candle time indicator in mt4?
This tool comes handy in planning your trades more effectively. Whether you are scalping or trend trading, having an eye on such information (next to spread, big impact news etc.) is crucial to success. In terms of visual aspects, this is how it looks like after activation – an example of a 15-minute EURUSD chart. Obviously, it just means there are 6 minutes and 49 seconds left of the most recent bar.
Settings overview
These are available options to customize:
- TextColor – sets the color of the countdown clock;
- FontSize – sets the size of the font;
- FontName – sets the font you want to use;
- DisplayTimeByTheBar – when set to true time, the data will be shown next to the active candle;
- DisplayTimeComment – when set to true, it will show a comment on the TOP LEFT part of the chart like: (9 minutes 16 seconds left to bar end);
- TextUsuallyAbovePriceLine – when to true, data will be displayed above the price line, otherwise below it;
- SpreadFactor – defines how far away (up or down) from the price line the data will be displayed. Bigger the number further away the price will be.
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