The “Candle Timer Indicator” is a great countdown indicator that shows when the last candle in your current timeframe will close. You’ve heard this a lot in forex trading: “wait for the candle to close”.
Where and how the candle closes can change all our trade entry decisions depending on our strategy.
For example, we are in the M30 timeframe and we don’t want to manually calculate when the current 30-minute candle will close. We want to see it instantly.
We want to have complete control over the chart. In this case, the candle timer indicator will help us a lot.
This indicator works in the metatrader5 terminal. And it has a simple appearance like the one below.
I will give you the indicator below for free. You can change the color, text size, text position, etc. from the “indicator properties” tab.
The closer the “timer shift” here is to zero, the closer the timer text on the screen is to the candles. If you want to zoom out, you should increase the value of 1 here.
This extremely useful indicator is not tied to any timezone. You can just think of it as a countdown tool. When you switch between timeframes, it automatically renews itself.
And it can be seen in all timeframes. I recommend adding it to your own strategy template as a helper tool.
See you in the next premium indicator reviews.
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