The Candle Timer indicator for Metatrader 5 displays the remaining time until the current candle ends and a new candle commences.
When the current candle is positive, the candle time is depicted in green, and when it’s negative, it is represented in violet.
The following indicator inputs and parameters can be modified: color for positive timer values, color for negative timer values, font size for timer, and timer shift.
Familiarize yourself with the Candle Timer indicator and test it first on a practice account.
It supports all time frames and trading instruments offered by the Metatrader 5 charting platform.
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The following chart shows what the Candle Timer Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Candle Timer Indicator?
The Candle Timer indicator doesn’t generate trading signals.
Please combine with other technical indicators or with an existing trading system of your preference.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the candle_timer.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration