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Candle Timer

The Candle Timer Indicator for MT4 displays the remaining time for a candlestick to close. With its simple yet effective design, the Candle Timer Indicator is a great way to improve your trading results.

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Description

The Candle Timer Indicator for MT4 is a countdown clock that displays the remaining time left for a candlestick to close on the chart. It is a simple but powerful financial trading tool for traders seeking precision and better decision-making in their trading endeavors.

The indicator is a valuable MetaTrader 4 trading resource, especially for scalpers. It offers insight into the timing of candlesticks, assisting scalpers in making informed decisions like trade entries or exits. Besides, it is suitable for beginners, intermediate, and advanced traders to keep a tab on candlestick closing time.

Features of the Candle Timer Indicator for MT4

The Candle Timer indicator displays a countdown of candlesticks on the chart, which allows traders to keep a tab on candlestick open and close time. Furthermore, the indicator operates on multiple timeframes, which makes it a suitable trading companion for scalpers, day, and swing traders.

Finally, the indicator is incorporated with a color-coded interface to simplify interpreting the timer. It turns medium sea green when a new candle begins and turns pale violet red as it approaches completion.

Benefits of Using the Indicator

  • Precision Timing: The indicator provides real-time updates on the remaining time for a candlestick to close, which can be beneficial in making timely trading decisions in the dynamic Forex market. For example, the indicator can assist scalpers in opening a position at the close of a candlestick.
  • Reduces Stress: The indicator helps traders visualize the time remaining in a candlestick, which can effectively alleviate the mental stress of timing when a candlestick will close.

Parameters Settings Description

The indicator comes with the following customizable settings:

Color for positive values: Determines font colors to display positive values.

Colors for negative values: Determines the color to display negative values.

Candle shift: Determines the position of the indicator on the chart.

Font size for timer: Defines the font indicator’s font size.

Timer shift: Determines the position of the indicator on the chart.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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