The Candle Timer indicator works by retrieving the time from the broker’s server. It also retrieves the time when the next candle would begin. Then, it calculates for the difference between the projected open time of the next candle and the current time on the broker’s server.
The difference between the open time of the next candle and the current server time is then displayed on the right side of the chart as the remaining time for the current candle before it closes.
The Candle Timer indicator is not like most technical indicators because it does not indicate how you should trade. It does not provide trend direction or bias, reversal signals, support and resistance levels, and the likes. Instead it is a tool that would allow traders to time their trades correctly.
Traders can pair this indicator with other trade indications such as reversal candlestick patterns, reversal trade signals, breakouts, and the likes. Traders simply need to wait for the time displayed on the Candle Timer to wind down to zero or at least close to zero. If the candle signal does not reverse before the time winds down, then the trade setup is considered valid.
The difference between the open time of the next candle and the current server time is then displayed on the right side of the chart as the remaining time for the current candle before it closes.
The Candle Timer indicator is not like most technical indicators because it does not indicate how you should trade. It does not provide trend direction or bias, reversal signals, support and resistance levels, and the likes. Instead it is a tool that would allow traders to time their trades correctly.
Traders can pair this indicator with other trade indications such as reversal candlestick patterns, reversal trade signals, breakouts, and the likes. Traders simply need to wait for the time displayed on the Candle Timer to wind down to zero or at least close to zero. If the candle signal does not reverse before the time winds down, then the trade setup is considered valid.
