Knowing the remaining time in a candle can be very useful. The MetaTrader platform shows you the current time, but it does not show you the elapsed time since the start of the candle. MetaTrad...
Candle Time and Spread Indicator for MetaTrader
Knowing the remaining time in a candle can be very useful. The MetaTrader platform shows you the current time, but it does not show you the elapsed time since the start of the candle. MetaTrader does not show the remaining time in the current candle either. This Indicator can show you the remaining candle time and spread in the MetaTrader chart.
What Is Candle Time and Spread Indicator for MetaTrader
The Candle Time and Spread Indicator for MetaTrader is available for both the MT4 and MT5 platforms and is very useful when the entry and exit timing is essential for trade.
The Candlestick Timer for Forex MT4 and MT5 allows you to see on the chart the elapsed time since the start of the chart candle and the remaining time before the next chart candle starts forming.
Furthermore, the Forex Indicator also includes the current spread for the instrument.
Besides a visual representation of the candle time, this Indicator can also alert you with some notice before the candle closes.
Why Use Candle Time Indicator for MetaTrader
The MT4 and MT5 Candle Time indicators can be useful in the following situations.
Two Types of Trades
You can usually identify two types of forex trades in forex trading, perhaps three. These Types are divided by the duration of the forex 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 the medium- and long-term trades, the entry timing can span hours or days; however, if you are involved in short-term forex trades, the timing is one of the essential aspects of entry and exit.
This is why knowing when the chart candle will close can help.
Candle Time for Candlestick Pattern Strategies
If you like trading using chart candlestick patterns, you might want to know when a chart candle is about to close.
This will allow you to check if a known chart pattern formed and if there is a good trading opportunity.
The Candlestick Timer forex Indicator can alert you before the closure of the candle so you can be prepared for your forex chart analysis.
Geographic Market Open and Close
As you know, the Forex trading market runs 24 hours daily, closing only during the weekend.
The market activity is higher during the day of geographical location, and many forex strategies are based on specific behaviors happening at market open or market close.
The Candle Time Indicator for MetaTrader can assist you in being prepared for a market to open and close.
News and Events
Many trading forex strategies are based on trading news and events.
Using one of these forex strategies, you probably want to know how the market reacts to a scheduled event or news.
You can set the chart candlestick timer for MetaTrader to alert you before the time of scheduled news so you can check the market response to it.
Input Parameters of Candle Time Indicator for MT4/MT5
The Candle Timer Forex Indicator for MT4 and MT5 has some valuable features you can customize through input parameters:
Graphical Interface
You can choose between:
- Minimal Interface, with only a tiny countdown to the next candle.
- Extended Interface includes information about the current instrument, the elapsed time since the start of the chart candle, and the remaining time for the current candle.
Alert Notifications
You can configure the forex Indicator to send you an alert a set of seconds before the candle closes.
Can send Notifications to the following:
- On-screen alert
- Mobile app
Why Use Spread Indicator for MetaTrader
This is an excellent tool to make the spread more visible, which is usually very small or hidden in the Market Watch.
If you search for a candle time or spread forex Indicator, you can see how there are many options available. However, it is a very personal choice, and it depends on the options that you are looking for.
We decided to create an indicator that is easy to use and can show a countdown and alert the trader; you can download it for free.
MT4 Candle Timer
If you are trading in short mt4 timeframes, like 30 minutes or less, you know that timing is critical. In some strategies, knowing when a bar is closing, and the next one will start is beneficial. The MT4 Candle Timer forex Indicator allows you to see a countdown to the next candles and also be notified in advance before it happens.
What Is MT4 Candle Timer Indicator
The MT4 Candle Timer Forex Indicator is a simple chart indicator that helps you identify when a new bar will form.
This Indicator has a Candlestick Timer that continuously checks the time elapsed since the start of a chart candle and the remaining time before this closes.
The forex Indicator has a simple window to detect the desired information immediately.
Why Is MT4 Candlestick Timer Indicator Useful
So when is a Candlestick Timer useful? If trading long-term, you probably don’t need a candle timer forex indicator because your entry will not be affected too much by a minute or an hour. However, you know timing is critical if you are a forex scalper or a trader in the short timeframes.
The Forex trading market is open 24 hours, and it only closes during the weekend, and some forex strategies may be heavily affected by the wrong timing in your position entry.
The MT4 Candle Timer forex Indicator can show you the remaining time in the current candle so that you can be prepared for the following chart candle opening.
Some examples of situations that can benefit from this forex Indicator are:
- Scheduled news coming out
- Geographic market open and close
- Scheduled events happening, usually either financial, economic, or political
Also, consider that many algorithms run in automated forex trading might trigger orders at the start of a new chart candlestick.
How to Download and Use MT4 Candle Timer Forex Indicator
You can download the free MT4 Candle Timer Indicator with the link below and install it following the instructions.
The installation is straightforward to perform, and so is the use.
Once you run the forex Indicator, you can set if you want to see an extended interface or a simple countdown.
➥ Download MQLTA MT4 Candlestick Timer Indicator With Alert.zip
Indicator Installation Instructions
To install the Forex Indicator, please follow the instructions below:
- Download the forex indicator archive file.
- Open the Forex MetaTrader 4 data folder (via File→Open Data Folder).
- Open the MQL4 Folder.
- Copy all the New folders from the archive directly to the MQL4 folder.
- Restart Forex MetaTrader 4 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.
Please visit this page for more detailed instructions on performing the installation and a tutorial video.
Configuration of Alerts and Notifications
To use the alert and notification feature in the Forex Indicator or EA, it is necessary first to configure the MetaTrader client.
For more detailed instructions, please read the alert and notifications configuration page.
Remember that your Forex MetaTrader client must be open and online to receive the alerts.
MT5 Candle Timer
➥ Download MQLTA MT5 Candlestick Timer Indicator With Alert.zip
Indicator Installation Instructions
To install the Forex Indicator, please follow the instructions below:
- Download the forex indicator archive file.
- Open the forex MetaTrader 5 data folder (via File→Open Data Folder).
- Open the MQL5 Folder.
- Copy all the new folders from the archive directly to the MQL5 folder.
- Restart MetaTrader 5 or refresh the forex indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.
Conclusion
In this article, you discovered Candle Time and Spread Forex Indicator for MT4 and MT5 and learned how it could be helpful in trading.
You also have some download links for our version of the forex Indicator so that you can download and test it.
 | No Minimum Deposit | |
 | Min Deposit of 20$ |
Download a Collection of Indicators, Courses, and EA for FREE
You can open a forex trading account with any MT4 Forex brokers to freely use the presented Indicator for MetaTrader 4. If you want to use an MT5 version of the forex Indicator presented here, you need to open an account with a forex broker that offers MetaTrader 5.
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