Candle Time and Spread Indicator for MetaTrader Candle Time and Spread Indicator for MetaTrader

It is very useful to know the remaining time of the candle. The MetaTrader platform shows you the current time, but not the elapsed time since the start of the candle. MetaTrader also does not display the remaining time of the current candle. This indicator can show you the remaining candle time and spread in a MetaTrader chart.

What are Candle Time and Spread Indicators for MetaTrader

The Candle Time and Spread Indicator for MetaTrader is available for MT4 and MT5 platforms and is useful when entry and exit times are critical to trading.

Candlestick Timer for Forex MT4 and MT5 allows you to view on the chart the time elapsed since the start of the chart candle and the remaining time before the next chart candle starts to form.

Additionally, the Forex indicator includes the instrument’s current spread.

In addition to a visual representation of the candle time, this indicator can also give you some notifications before the candle closes.

Why Use Candle Time Indicator For MetaTrader

The MT4 and MT5 Candle Time Indicator is very useful in the following situations.

Two Types of Trades

You can generally identify two types of Forex trading, maybe three. These types are divided by the duration of Forex trading.

These types are:

• Short-term, lasting less than a day
• Mid-term, lasts a few days
• Chronic, lasting days or weeks

In medium to long-term trading, entry times can span hours or days; however, if you are involved in short-term Forex trading, timing is one of the important aspects of entry and exit.

That's why it helps to know when a chart candle closes.

Candle Timing for Candlestick Pattern Strategy

If you like to trade with chart candlesticks, you may want to know when a chart candle is about to close.

This will allow you to check if known chart patterns are forming and if good trading opportunities exist.

The Candlestick Timer Forex indicator can alert you before a candle closes so that you are ready for your Forex chart analysis.

Geographic market opening and closing

As you know, the Forex trading market operates 24 hours a day and is closed only on weekends.

Geographic locations have higher market activity that day, and many forex strategies are based on specific actions that occur when markets open or close.

The Candle Time Indicator for MetaTrader can help you prepare for market openings and closings.

News and Events

Many Forex trading strategies are based on trading news and events.

Using one of these forex strategies, you may want to know how the market reacts to a given event or news.

You can set a chart candlestick timer for MetaTrader to alert you before scheduled news times so that you can check the market's reaction to it.

MT4/MT5 Candle Time Indicator Input Parameters

The Candle Timer Forex Indicator for MT4 and MT5 has some valuable features that you can customize by entering parameters:

Graphical Interface

You can choose:

• Minimal interface, just a tiny countdown to the next candle.
• The extended interface includes information about the current instrument, the elapsed time since the start of the chart candle, and the remaining time of the current candle.

Alert Notifications

You can configure the Forex indicator to send you an alert a few seconds before the candle closes.

Notifications can be sent to:

• On-screen alert
• Email
• Mobile app

Why Use MetaTrader’s Spread Indicator

This is a great tool to make spreads more visible that are often very small or hidden in Market Watch .

If you search for candle time or spread forex indicators you can see that there are many options available. However, this is a very personal choice and depends on the options you are looking for.

We decided to create an easy-to-use indicator that displays a countdown and alerts traders; you can download it for free.

MT4 Candle Timer

If you trade on shorter mt4 timeframes, such as 30 minutes or less, you know that timing is crucial, especially when using scalping forex indicators. In some strategies, it is beneficial to know when one bar closes and when the next one begins. The Candle Timer Forex Indicator for MT4 allows you to view the countdown to the next candle and receive advance notification before it occurs.

What is Candle Timer Indicator for MT4

The Candle Timer Forex Indicator for MT4 is a simple chart indicator that helps you identify when new bars are formed.

The indicator has a candlestick timer that continuously checks the elapsed time since the start of the chart candle and the remaining time before closing.

The Forex indicator has a simple window to detect the required information instantly.

Why Candlestick Timer Indicator for MT4 is useful

So when is the candlestick timer useful? If trading for the long term, you may not need the candle timer forex indicator as your entries will not be affected much by one minute or one hour. However, you know that if you are a Forex scalper or short-term trader, timing is of the essence.

The Forex trading market is open 24 hours a day and only closes on weekends, and some Forex strategies can be severely affected by the wrong timing of opening a position.

The Candle Timer Forex Indicator for MT4 can show you the remaining time of the current candle so that you are ready for the opening of the next chart candle.

Some examples of situations that could benefit from this forex indicator include:

• Reservation information will be released soon
• Geographic market opening and closing
• The occurrence of a predetermined event, usually financial, economic, or political

Also, consider that many algorithms running in automated forex trading may trigger orders at the beginning of a new chart candlestick.

How to Download and Use Candle Timer Forex Indicator for MT4

You can download the free Candle Timer Indicator for MT4 via the link below and follow the instructions to install it.

Very easy to install and simple to use.

After running the Forex indicator, you can set whether 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, follow these instructions:

1. Download the Forex indicators archive.
2. Open the Forex MetaTrader 4 data folder (via File → Open Data Folder ).
3. Open the MQL4 Folder.
4. Copy all new folders from the archive directly to the MQL4 folder.
5. Restart Forex MetaTrader 4 or refresh the indicator list by right-clicking on the Navigator platform subwindow and selecting Refresh .

Please visit this page for more detailed instructions and tutorial videos on performing the installation.

Configuration of alerts and notifications

To use the alerts and notifications feature in Forex indicators or EAs, you must first configure the MetaTrader client.

For more detailed instructions, read the Alerts and Notifications Configuration page.

Please remember that your Forex MetaTrader client must be open and online to receive alerts.

MT5 Candle Timer

➥ Download MQLTA MT5 Candlestick Timer Indicator with Alert.zip

Indicator installation instructions

To install the Forex indicator, follow these instructions:

1. Download the Forex indicators archive.
2. Open the Forex MetaTrader 5 data folder (via File → Open Data Folder ).
3. Open the MQL5 Folder.
4. Copy all new folders from the archive directly to the MQL5 folder.
5. Restart MetaTrader 5 or refresh the Forex indicator list by right-clicking on the Navigator platform subwindow and selecting Refresh .

Conclusion

In this article you discovered the Candle Time and Spread Forex Indicator for MT4 and MT5 and learned how it can help in trading.

You also have some download links for our Forex indicator version so that you can download and test it.

You can open a Forex trading account with any MT4 Forex broker to freely use the MetaTrader 4 indicators provided. If you want to use the MT5 version of the Forex indicators presented here, you will need to open an account with a Forex broker that offers MetaTrader 5.