Many trading strategies force traders to constantly monitor the time until the candle closes , which is why they are distracted from the transaction process, counting the minutes and seconds remaining until the closing of the session on the exchange or the change in the trading trend. This problem can be solved by indicators located on the stock chart and showing the time remaining until the end of the bar (candle).
What is a candle close indicator?
On Forex, the indicator closing time of a candle is an assistant that makes the trading process more convenient and efficient, showing the trader the time remaining until the end of the next candle.
All Forex indicators are divided into 2 types :
Analytical Algorithms.
Helper algorithms (indicators or candle timers).
The second is necessary to simplify the work of traders on the exchange, because they speed up the process of making the right trading decisions (especially when trading on the news ). Time intervals help to enter the market in time and exit from it in time with the greatest possible benefit. Closing any candlestick indicates that the market is approaching an important point that will affect the further trend of increase or decrease in prices.
Knowing the exact time the bar ends, the trader can quickly make the right decision by opening a deal at the right time for him. In addition, the player can quickly carry out the correct calculation of profits and control possible losses, instantly rearranging stop loss .
Each candle timer, notifying traders about the time the bar ends, must meet the following requirements :
Carry out correct work at any time intervals.
Provide visual information about the moment the bar (candle) ends.
It is convenient to settle down on the chart screen, without interfering with the trader getting basic information about transactions.
Indicators
Traders who work at time intervals from M1 to M30 should know exactly the moment of possible entry into the transaction . On short time frames, many trading strategies are based on the most accurate and fast entry and exit from the market, so even a second delay can significantly affect the outcome of the transaction .
Short-term traders (for example, scalpers ) should always be guided in the situation on the exchange and be prepared to close the previous one and open a new candle on their chart, because this could mean a significant difference between profit and loss. This time can be calculated in seconds , so a correctly selected candlestick timer for the end of the current bar can become the main assistant in developing an exchange strategy, where the period of the beginning and end of trading sessions is of great importance
Candle timers also provide significant assistance to traders working along the support and resistance lines , allowing you to instantly assess the situation between the current price and its level on the chart. Indicators that display the exact time on the chart will be useful to exchange players trading on the breakdown of the time interval (for example, the Asian exchange session).
Closetime indicator
This indicator of the time to close the candle for MT4 shows on the chart :
time at the exchange terminal;
how many minutes or seconds are left until the end of the current candle;
candle closing moment.
Functional and easy to configure, the Closetime indicator sends traders signals by mail, via push notifications or alerts , when less than 20 seconds are left before the final.
free download
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