P4l Candletime indicator is an excellent indicator for tracking the movement of candlesticks and identifying good trading entry points. It allows you to determine the remaining time before the candlestick’s closure.
Why should you use the P4l Candletime indicator?
As with other aspects of our lives, timing is crucial in life. Therefore, it is essential to use the P4L CandleTime indicator MT4 to be an excellent option to add to your tools for trading. The hand is easy to use but highly efficient.
The name suggests the indicator displays the remaining time before the candlestick ends. It can be used for any time frame and currency pairs. Furthermore, the hand is suitable for day traders and scalpers. But it does have quite a distinctive feature. In contrast to other indicators, it does not offer sell and buy signals.
In addition to candle time, these names are also known as candlestick clock time indicator and candle time remaining—candle countdowns, bar clock bar timer, and candle timer.
Trading with P4l Candletime:
Although the indicator doesn’t give signals for selling or buying, it can be a helpful instrument for organizing trading schedules. This indicator is helpful if you’re an active price trading. For instance, if trading on a 1-hour time frame, it will inform you of the number of minutes remaining until the end of the candlestick. Monitoring the next candle’s pattern on time frames with short durations could result in a loss or profit for scalpers.
As you know, the market closes on weekends. Depending upon your location, this indicator can assist you in determining the time before the end of the candlestick or the expiration of the day’s trading. This feature is handy on Fridays. Also, it will aid you in closing your trades before approaching the market on weekends.
The P4L CandleTime indicator for Mt4 download is a great way to track how the market reacts to market events. It also shows the remaining time until the release of market information. This will assist you in closing your trade before the news event triggers an earthquake.
Trading Example
The chart above shows US Dollar against the Australian dollar set on a one-hour timeframe. According to the indicator, there are only 15 minutes and 37 seconds remaining before the candlestick close.
Inputs of P4l Candletime
The following table shows the indicator input parameters.
Conclusions
P4L Candletime indicator is a distinctive yet handy indicator. It will alert you to the time remaining before the closing of the current candle. The most significant thing is that it is entirely free of cost. Download your free indicator here.
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