Hello! There are forex indicators for analysis, and there are indicator assistants that perform utilitarian, auxiliary functions, making trading easier. About one of these “helpers” today and will be discussed. The Candle timer indicator shows how much time is left before the candle closes. This is very convenient when trading on both small and large timeframes.
Well, indicators are different: trend, channel, oscillators – but most of them somehow serve for technical analysis. Most, but not all. So our candle closing indicator Candle timer is one of these tools.
Candle timer mt4 is an indicator that shows the time until the candle closes. Actually, that’s all. The indicator does not give us any other information (no signals for binary options, nothing). But, you see, the function is very convenient, especially on small timeframes. I must say at once that candle timer indicator, our today’s indicator of the time before the candle closes, is written directly for MT4; it is not on the live charts. Download the indicator as usual in the network.
The Candle Timer indicator Instructions
The indicator works on any timeframe from M1 to D1, its installation in the terminal is carried out according to standard instructions.
After attaching the indicator to the chart (any instrument), we will see a timer showing the time remaining until the candle closes.
The location of the timer, color and font size can be changed in the settings.
Description of settings
- FontColor – by clicking on this line, you can change the font colors (you can choose any color, even pink or blue),
- FontColorLabel – here you can also change the font color, but the font is directly the temporary units themselves (such as HR (hour), MIN (minute), SEC (second)),
- BackColor – on this line we change the background color of our timer,
- LargeDisplay – here we can reduce or increase the font (accordingly, “true” will increase the font, and “false” will reduce),
- Corner – well, here we are already changing the location of our timer on the graph (1– upper right corner, 2 – lower left corner, and 3 – lower right corner, respectively).
- top right
- bottom left
- bottom right
In my opinion, the indicator is most conveniently used on small timeframes where precision is needed, for example, M1 and M5, as well as on large ones, like H4. On the hourly charts and so everything is clear and convenient.