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104 Shares Are you looking for a bar or candlestick timer for MetaTrader 4? An indicator to count down the time until the next candle or bar? Then you’re in luck.

I’ve found a pretty cool candlestick timer to share with you guys. The timing of your candles or bars can be an invaluable tool, especially in day trading, and even more so if you happen to be a scalper. I’m not sure why MetaQuotes (creators of MT4) didn’t include this feature in their MetaTrader 4 platform, but luckily for us there are some talented programmers that are willing to share their work with the MT4 community.

As some of you may know, I use a countdown timer in my own trading. In the past, I used a premium indicator for this feature (the one that comes with the indicators). I switched to the CCTR (Candle Closing Time Remaining) indicator a couple of years ago, and I haven’t looked back. This is one indicator that I can’t trade without. I use this indicator daily with my, along with a, a, and a. How to Use This MT4 Candlestick Timer Indicator In the picture above, I’ve marked the candlestick timer positions (0-4). Under the “Inputs” tab of this indicator, change the “location” variable to these numbers to place the timer in its corresponding position.

Location 0 – Put the name of the indicator and a small version of the timer in the upper-left corner. Location 1 – Put the candlestick timer in the upper-right corner. Location 2 – Put the timer in the lower-left corner. Location 3 – Put the timer in the lower-right corner. Location 4 – Put the timer in the upper-left corner.

I personally use location value 3 (lower-right corner). That way, when I use an Expert Advisor, the two aren’t fighting for space in the upper-right corner.

You can display your broker’s server time with this indicator by turning the “displayServerTime” function on. By default, this function is turned off (0).

Candle Closing Time Remaining – CCTR [v2] – indicator for MetaTrader 4 is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform.

Set the value to 1 to turn this function on. You can also change the font size of the clock as well as the color. The default font size and color are 9 and silver respectively. I use 12 and black on my own charts (see the image above). Installation Instructions: • Download and extract the indicator. • Move it to your “Indicators” folder ( MetaTrader 4 > MQL4 > Indicators).

• Start or restart MT4. • Open your “Navigator” window, if it’s not already open ( Ctrl+N). • Drag the Candle Closing Time Remaining indicator onto your chart. • Adjust the settings and colors, if needed, and hit the “OK” button. There are other MT4 candlestick timers (or bar timers) out there, but I prefer this one. Once you get used to using a candlestick timer, you will probably also wonder why MetaQuotes did not include something like this in the default platform. I use this indicator every day that I trade, so I hope you find this candlestick timer for MetaTrader 4 as useful as I have.

This article was originally posted in 2012.

Updated March 26, 2018 Candlesticks are an efficient way to view an asset's price chart. Candlesticks quickly show which way the price moved during a specific time period using colors, as well as how far the price moved during that period. Candlesticks are popular because of their visual appeal, compared to or charts. Each 'candle' represents a certain amount of time, which is selected in the trading platform or in the chart settings. Popular candlestick time frames for day trading include tick charts, 1-minute, and 5-minute time frames. If using a 5-minute time frame, each candle will show the high, low, open and closing price (discussed below) for that 5-minute period, as well as show the direction the price moved during that five minutes. After five minutes a new candle will begin, showing the data for that five minute period.