Candle Timer Indicator, Dominate Your Chart Timing Precision

Description

Timing is crucial, just like in other facets of life. For this reason, adding the Candle Timer indicator to your trading arsenal is highly recommended. The indicator is straightforward but quite effective.

The indication displays the amount of time left until the candle closes, as the name implies. It can be applied to any time period and any pair of currencies. Furthermore, both scalpers and day traders can use the indicator. But it has one really special quality. It does not provide buy or sell signals, in contrast to other indicators.

Candle Timer Indicator, candle time remaining, candle countdown, bar clock, bar timer, and candle timer are some more names for it in addition to candle time.

How to trade with the Candle Timer

Now, how can you trade on MT5 using the Candle Timer indicator?

The indicator is a useful tool for organizing trading charts even though it doesn’t produce buy or sell indications. If you trade price action, the indicator will be quite helpful. For instance, it will indicate the number of minutes till the candle ends if you are trading on the hourly timeframe. For scalpers, following the next candle’s formation on short timeframes might make the difference between profit and loss.

The market is closed on weekends, as you are aware. The indication can assist you in calculating the number of minutes until a candle closes or a trading day expires, depending on where you are. On Fridays, this function is extremely helpful. To put it another way, it can assist you in closing open positions before the market shuts down for the weekend.

The free Candle Timer indicator for MT5 can be used to monitor the market’s response to specific market occurrences. It also displays the amount of time left till market news is released. By doing this, you can close the trade before a news event causes the market to go into overdrive.

Trading Example

The Australian dollar is displayed hourly versus the Canadian dollar in the above chart. The indication indicates that the candle will close in only 15 minutes and 37 seconds.

Conclusion

One unusual but very helpful indication is the candle time indicator. It alerts you to the amount of time left before the current candle closes. The fact that this indicator is free is its best feature. You have to give this a try.