Forex for a trader
Forex chart candle time indicator mt4

Forex chart candle time indicator mt4Candle Time Indicator for MT4. Never miss another Candle close with Candle Time Indicator! This is a Candle Time indicator which shows how much time is left before candle closes. The indicator shows the time in: hours:minutes:seconds to the end of the current candle. It works with all time-frames. Time is updated on every tick. This are the available settings for Candle Time Indicator which you can change: TextColor: choose color of the countdown clock FontSize: Size of the font FontName: font you want to use DisplayTimeByTheBar: If set to true time will be shown next to the active candle DisplayTimeComment: If set to true it will show a comment on the TOP LEFT part of the chart like: (9 minutes 16 seconds left to bar end) TextUsuallyAbovePriceLine: If set to true candle end time will be displayed above the Price line. If set to false it will be displayed below price line. SpreadFactor: Specify how far away (up or down) from the Price line will the candle end time be displayed. Bigger the number further away the price will be. How to install Candle Time countdown indicator in MetaTrader 4 MT4: DownloadCopySave the MQ4EX4 file into your C:Program FilesMetaTrader 4expertsindicators folder (or change the folder to your installation sometimes forex broker name) Restart your MetaTrader 4 application (assuming it’s currently open) … or Launch your MetaTrader 4 application On the left hand side, look for the “ Navigator ” window and under the “ Common ” tab, look into the “ Custom Indicators ” section Locate the indicator which you have just downloaded into the folder stated in Step 1 Drag (Click and drag) the indicator onto the chart Choose your settings and click OK. TADA and your done! Subscribe to our e-mail newsletter to receive updates and please visit us on our social networks: 3 Responses to Candle Time Indicator for MT4. what means auto timeshift adjust and what means adjust weekly time remain by_min in the settings? AutoTimeShiftAdjust: It adjusts for Symbol() names like: “EURUSD+1H”. However, change to “false” if your Symbol() name DOES contain a natural “-” or “+” sign.

TimeRemainByMin: At least one broker’s Weekly feed has a flakey error. The weekly bars SAY they begin on calendar Sunday at 00:00:00 but in fact the first few hours of Sunday trades are applied to the *previous* weekly bar, and then a new weekly bar occurs starting Monday 00:00:00. The broker’s weekly bar start time is a lie by exactly 1 day. Adding a single day of minutes (1440) to the timer provides the true time remaining. This variable is a hack to fix the broker’s error. Alternatively, this variable could be used for a different purpose: The weekly transition may occur over a weekend. This adjustment *might* be able to be used to count down to the broker’s Friday close. However, that may result in “negative” seconds at the beginning of the week. It would be great if you could include an alarm if the countdown is over. Furthermore it would be cool if you give us the possibility to display the countdown also in big letters (possibility to choose font type, size and colour) in the right corner 3 at Metatrader. Best MT4 Candlestick Time Indicator (DOWNLOAD LINK) The MT4 Candlestick Time Indicator here is called b - clock_modified and it is really a useful indicator if you are one of those traders that: trades forex news or trades only on a certain hour during the day. You can also call this indicator as: candle countdown indicator mt4 mt4 bar timer or bar clock mt4 candle time remaining mt4 candle timer candle time indicator mt4 time indicator candlestick clock. How The Mt4 Candlestick Time Indicator Works. What the mt4 candle time indicator shows on your chart is what the remaining time is on the current candlestick before it closes and the next candlestick forms: so if this indicator is placed on a 1 hr candlestick chart, it will show how many minutes and seconds before the next 1 hr candlestick is formed. if the mt4 candle is placed on the 1 minute candlestick chart, it will show and countdown how many seconds remain before the next 1 minute candlestick is formed. when placed on the chart, it shows the candlestick remaining time on two locations, one on the top left hand corner of the chart and one near where the current candlestick is as shown on the chart below: Forex Trading Strategies Where The MT4 Candlestick Timer Can Be Used. Here are some forex trading strategies where the candlestick remaining time indicator can be used: Download Link MT4 Candle Timer.

In case you may be interested: Check out my free forex trading signals and trade setups based on price action. (Click that link) Ok, here’s the download link: b-clock_modified. The Best Candlestick Pattern Indicator for MT4. Wouldn’t it be great if there was an indicator that could help you identify candlestick patterns? Well, there is. In fact, there are many. The problem is most of them are terrible. I recently tested a bunch of the most popular indicators of this kind to find out which is the best candlestick pattern indicator for MT4. Personally, I don’t need an indicator to help me identify candlestick patterns anymore. Also, since I apply my own filters to qualify good candlestick patterns, simply pointing out candlestick patterns isn’t necessarily very useful to me. See one of the updated articles in my candlestick trading course to see what I mean. However, when I first started trading candlestick patterns, a good candlestick pattern indicator for MT4 would have been very useful to me, so I figured some of you would find this useful. The Best Candlestick Pattern Indicator for MT4. I chose the 3 indicators below after testing many candlestick pattern indicators for MT4. Many of the indicators I tested were junk. Others no longer worked. The indicators that I could get working were ranked by their ability to identify strong reversal patterns.

Keep in mind that just because an indicator made it onto this list doesn’t mean that I’m endorsing it. In fact, I’m only recommending one of these indicators and even it isn’t perfect. I’ll explain more below. The screenshots used are from the same broker, timeframe, and section of the chart. My hope is that this provides a fair comparison. Below are my top 3 picks, including the best candlestick pattern indicator for MT4 that I could find: #3 Pattern Recognition Master. I noticed a few other websites recommending this indicator, so I had high hopes for it. Unfortunately, it didn’t live up to the hype. The Pattern Recognition Master indicator claims to identify 10 popular candlestick patterns (5 bullish and 5 bearish patterns). Each individual candlestick pattern can be turned on or off. Alerts for each individual pattern can be turned on or off as well. It also has the option to set a separate color for each pattern. Note: Of the 3 indicators listed on this page, this is the only one that allows you to assign a separate color to each candlestick pattern. It uses abbreviated labels, which keeps the chart less cluttered, and includes an onscreen legend to help you identify each pattern that is highlighted.

Click to enlarge image. Sounds good, right? So… what’s the problem? Actually, there are several problems with this indicator that kept me from ranking it higher. For instance, the indicator doesn’t identify the morning star or evening star patterns (including the doji star patterns which are the same thing) for some reason. This indicator also seems to think almost anything with a long wick is a shooting star or hammer, regardless of how large the real body is. It also doesn’t identify the hanging man or inverted hammer, although this is by design. As a result, it will label any hanging man as a hammer and any inverted hammer as a shooting star. On a more general note, this indicator works on candlestick shapes alone – not context. Candlestick patterns are useless if they are not traded within the proper context of the market. #2 Candle Patterns Indicator.

The next candlestick pattern indicator for MT4 is slightly better in terms of identifying patterns, although it falls short in every other aspect. Candle Patterns Indicator was designed to identify over 30 popular candlestick patterns. Unfortunately, you can’t turn each individual candlestick pattern on and off. Instead, you chose from strong reversals, weak reversals, continuations, and unclassified patterns. You have to turn these patterns on or off in groups, which I found to be problematic (more on this later). Morning star and evening star patterns are identified by this candlestick pattern indicator, which is an improvement over the previous indicator. It can identify hanging man and inverted hammer patterns as well, so the hammer and shooting star patterns are identified more accurately. Example: In the section of the chart pictured below, there were no hammer patterns. The indicator did not identify any hammer patterns, which is accurate. Compare that to the previous chart, where 4 hammers where identified incorrectly.

It uses full labels (except with the morning star and evening star), which can look messy, but that’s just my personal preference. Click to enlarge image. It’s not perfect, but so far there are no deal breakers, right? So why am I not recommending this indicator? There are several serious problems with this candlestick pattern indicator that keep me from ranking it higher. For instance, it considers the inverted hammer, hanging man, dark cloud cover, bullish piercing, and other weak to moderately strong patterns to be strong reversal patterns (which they are not). Earlier, I mentioned that you can’t turn each pattern on or off individually, which means you’re stuck with this mix of strong and weak patterns no matter what you do to the settings. If you’re new to candlestick trading, this could be confusing. Just like the last indicator mentioned, this one also identifies candlestick patterns out of context, although it does a better job at identifying hammers and shooting stars. Add to the fact the chart is already crowded, because the indicator has no option to use abbreviated labels, the labels also crowd the candlesticks that they’re identifying (see the image above). This can make it difficult to, for instance, measure from the high or low of a candlestick using the measuring tool.

You also get random candlesticks with just an arrow and no label from time to time (see the image above – bottom right). #1 Nison Candle Highlighter. This is the only indicator that I can recommend for identifying candlestick patterns. I believe it is, by far, the best candlestick pattern indicator for MT4. Update: You can now read my full Nison Candle Highlighter review for more information about this indicator. Steve Nison is THE authority on candlesticks. He is responsible for introducing Japanese candlestick trading to the Western world. The Nison Candle Highlighter is designed to identify 28 candlestick patterns according to Steve’s own specifications, so you know the patterns are accurate. It has the ability to turn each individual candlestick pattern on or off, so you can focus on just the patterns that you’re interested in trading. You can use full or abbreviated labels (pictured below), so you can keep your charts uncluttered. Click to enlarge image. The sales page has a legend that you could reference or print out if needed, although the abbreviated labels are pretty self-explanatory. This is the most logical and elegant abbreviation system that I encountered while I was testing these candlestick pattern indicators. As you can see from the image above, the labels don’t crowd the candlesticks either. Okay, so enough about labels.

How well does it identify candlestick patterns? For starters, it actually identifies all 28 patterns that it’s designed to identify. The Nison Candle Highlighter accurately identifies each candlestick pattern, as you might imagine, but it also identifies each candlestick pattern within the proper context of the market. In other words, it won’t identify a hammer (bullish reversal pattern) after a bullish price movement. None of the other indicators that I tested could do that. Of course, it’s not perfect. For instance, if you look at the chart above you can see a couple of engulfing patterns that were nothing more than a small real body candlestick engulfing a doji or spinning top. Although those are technically engulfing patterns, they aren’t worth considering because their size is so small relative to the previous candlesticks. I tested many indicators to find the best candlestick pattern indicator for MT4. All of the free candlestick pattern indicators that I tested were terrible. Most of them seemed to have a problem with their labels in one form or another, which may not be a big deal to you. I like to keep my charts as clean as possible. More importantly, the free indicators identified candlestick patterns on the shapes of the candlesticks alone. They did not accurately identify candlestick patterns within the proper context of the market, which is crucial to candlestick trading. There is no substitute for experience and actually learning to identify these candlestick patterns for yourself.

However, an accurate candlestick pattern indicator could be very beneficial to certain traders. The Nison Candle Highlighter accurately identifies candlestick patterns within the proper context of the market, which is why I believe it’s easily the best candlestick pattern indicator for MT4. Still looking for a profitable trading system ? I've tested 10+ systems. Only 3 were profitable! Learn more about my #1 recommended trading system, Day Trading Forex Live. Get This Handy Candlestick Timer for Metatrader 4 (MT4) 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 Top Dog Trading 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 main trading system, along with a trading sessions indicator, a true MACD indicator, and a break even Expert Advisor. 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). 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 Candle Closing Time Remaining 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. Are you still looking for a profitable trading system ? I recently changed my main trading system after testing a new one for over a year. Come see why I switched to Day Trading Forex Live. Download Best Forex Candlestick Patterns indicator mt4. Candlestick patterns indicators guide you about candle next target in term of analysis. Candlestick pattern chart is most power idea for trading and play key role in turning points in any market pair. You also can understand complete about candlestick chart pdf for more details with trading role and daily market trend analysis in Forex.

Candlestick reversal patterns forex with indicator for bullish and bearish you can trad easily with short pips target. With candlestick indicators you can trad any broker any time frame in mt4 after candle template activation in chart. If you want to understand complete trend bullish and bearish candlestick patterns then download candle pattern indicator. Bullish and bearish candlestick patterns forex explained. Bearish candlesticks or bullish candlesticks just simple you can indicate with arrow indicator. You need just download file zip and install own mt4 with complete template. If candle show you green color in chart that means bullish power and same if candle show you red colore that means bearish. Candlestick analysis forex you can simple just follow indicator point and trad. For long term candle trading must choose Day trad time frame and for scalping candle pattern you can choose short term like m15 or M30 time frame. I am share with you some candle pattern name and type:- Bullish and bearish Harami Candlestick Pattern.

This is live example of Harami candlestick patterns with Bullish trend arrow appear in down line. For bullish arrow appear in down and after that market move next target. This harami candle show upper shadow and long lower shadow with short body pattern. This harami candle mostly appear in Uk market session opening time. Engulfing candlestick pattern indicator. The engulfing candlestick patterns also call reversal pattern means that work great on market reverse point. Mostly bearish engulfing in downtrend show downtrend market point as normal. This patterns forex candle appear and downtrend end and indicate clear uptrend next target with green line arrow in down bottom. Bullish & bearish Piercing Candlestick Pattern. This candlestick pattern consist of two downside gap for bullish and bearish trading with piercing.

You can trad with new York market close trad with this forex trading candlestick patterns. Candlestick bullish reversal patterns give you clear market trend with long term trading. Doji and Shooting Star Candlestick Pattern. For trading candlestick patterns you can use Doji pattern with long term in asia market session entry point. With Doji candlestick pattern show you bearish pattern candle for long term trad with strong down direction. You can All major pair like eurusd and other for doji candle stick Forex pattern. Check here above doji pattern indicator arrow for sell trading with 100 pips market target. Best Forex Candlestick Patterns Rules. There is not any hard rule for following candle stick pattern strategy you need to just wait and action on time for best trad entry point. For bull and bears candle stick you need to take action after waiting in any currency or gold trading pairs. If you want uk market trad session then must follow market open gap session time before any trad entry point. For 100 pips target you need to check day time frame in any broker platform mt4 for trading.

For Shooting Star Candlestick Pattern check out this arrow in above picture all forex candle pattern give you market buy or sell entry point with complete buy or sell trading in gold pair and some other. Forex candlestick pattern indicator you can download here and upload in mt4 with system and follow also remember rule in trad time. You can also check latest forex price action indicator and binary option strategy with indicator system. P4L CANDLE TIME Metatrader 4 Indicator. Try P4L CANDLE TIME Metatrader indicator in your mt4 platform. This is also known as CANDLE TIME COUNTDOWN indicator. Read our tutorial on installing indicators below if you are not sure how to add this indicator into your trading platform. Search For More Forex Metatrader Indicators By Name. Some other popular Metatrader indicators to install. These are some of the most popular metatrader indicators we feature on the site. You will find a few different modified versions of these within our main download index above. Or go back to our main index to view all of our free Metatrader indicators. Installing Metatrader Indicators is quick and easy and you can have your trading system up and running in a matter of minutes. Mutliple MT4 Servers allow you to choose which broker can provide your platform data and which provider you would like to trade through all without having to have multiple platforms installed.

Custom indicators are the ultimate benefit of trading vis MT4 platforms. You can create indicators that are completely custom to your needs. Expert Advisors allow you totrade your systems automatically allowing you time to research and create new trading methods. Don't worry all is not lost. If your platform is set up correctly lost charts will be a thing of the past. The Best Candlestick Pattern Indicator for MT4. Wouldn’t it be great if there was an indicator that could help you identify candlestick patterns? Well, there is. In fact, there are many. The problem is most of them are terrible. I recently tested a bunch of the most popular indicators of this kind to find out which is the best candlestick pattern indicator for MT4. Personally, I don’t need an indicator to help me identify candlestick patterns anymore. Also, since I apply my own filters to qualify good candlestick patterns, simply pointing out candlestick patterns isn’t necessarily very useful to me. See one of the updated articles in my candlestick trading course to see what I mean.

However, when I first started trading candlestick patterns, a good candlestick pattern indicator for MT4 would have been very useful to me, so I figured some of you would find this useful. The Best Candlestick Pattern Indicator for MT4. I chose the 3 indicators below after testing many candlestick pattern indicators for MT4. Many of the indicators I tested were junk. Others no longer worked. The indicators that I could get working were ranked by their ability to identify strong reversal patterns. Keep in mind that just because an indicator made it onto this list doesn’t mean that I’m endorsing it. In fact, I’m only recommending one of these indicators and even it isn’t perfect. I’ll explain more below. The screenshots used are from the same broker, timeframe, and section of the chart. My hope is that this provides a fair comparison. Below are my top 3 picks, including the best candlestick pattern indicator for MT4 that I could find: #3 Pattern Recognition Master. I noticed a few other websites recommending this indicator, so I had high hopes for it. Unfortunately, it didn’t live up to the hype. The Pattern Recognition Master indicator claims to identify 10 popular candlestick patterns (5 bullish and 5 bearish patterns). Each individual candlestick pattern can be turned on or off. Alerts for each individual pattern can be turned on or off as well.

It also has the option to set a separate color for each pattern. Note: Of the 3 indicators listed on this page, this is the only one that allows you to assign a separate color to each candlestick pattern. It uses abbreviated labels, which keeps the chart less cluttered, and includes an onscreen legend to help you identify each pattern that is highlighted. Click to enlarge image. Sounds good, right? So… what’s the problem? Actually, there are several problems with this indicator that kept me from ranking it higher. For instance, the indicator doesn’t identify the morning star or evening star patterns (including the doji star patterns which are the same thing) for some reason. This indicator also seems to think almost anything with a long wick is a shooting star or hammer, regardless of how large the real body is. It also doesn’t identify the hanging man or inverted hammer, although this is by design. As a result, it will label any hanging man as a hammer and any inverted hammer as a shooting star. On a more general note, this indicator works on candlestick shapes alone – not context. Candlestick patterns are useless if they are not traded within the proper context of the market. #2 Candle Patterns Indicator. The next candlestick pattern indicator for MT4 is slightly better in terms of identifying patterns, although it falls short in every other aspect.

Candle Patterns Indicator was designed to identify over 30 popular candlestick patterns. Unfortunately, you can’t turn each individual candlestick pattern on and off. Instead, you chose from strong reversals, weak reversals, continuations, and unclassified patterns. You have to turn these patterns on or off in groups, which I found to be problematic (more on this later). Morning star and evening star patterns are identified by this candlestick pattern indicator, which is an improvement over the previous indicator. It can identify hanging man and inverted hammer patterns as well, so the hammer and shooting star patterns are identified more accurately. Example: In the section of the chart pictured below, there were no hammer patterns. The indicator did not identify any hammer patterns, which is accurate. Compare that to the previous chart, where 4 hammers where identified incorrectly. It uses full labels (except with the morning star and evening star), which can look messy, but that’s just my personal preference. Click to enlarge image. It’s not perfect, but so far there are no deal breakers, right? So why am I not recommending this indicator?

There are several serious problems with this candlestick pattern indicator that keep me from ranking it higher. For instance, it considers the inverted hammer, hanging man, dark cloud cover, bullish piercing, and other weak to moderately strong patterns to be strong reversal patterns (which they are not). Earlier, I mentioned that you can’t turn each pattern on or off individually, which means you’re stuck with this mix of strong and weak patterns no matter what you do to the settings. If you’re new to candlestick trading, this could be confusing. Just like the last indicator mentioned, this one also identifies candlestick patterns out of context, although it does a better job at identifying hammers and shooting stars. Add to the fact the chart is already crowded, because the indicator has no option to use abbreviated labels, the labels also crowd the candlesticks that they’re identifying (see the image above). This can make it difficult to, for instance, measure from the high or low of a candlestick using the measuring tool. You also get random candlesticks with just an arrow and no label from time to time (see the image above – bottom right). #1 Nison Candle Highlighter. This is the only indicator that I can recommend for identifying candlestick patterns. I believe it is, by far, the best candlestick pattern indicator for MT4. Update: You can now read my full Nison Candle Highlighter review for more information about this indicator.

Steve Nison is THE authority on candlesticks. He is responsible for introducing Japanese candlestick trading to the Western world. The Nison Candle Highlighter is designed to identify 28 candlestick patterns according to Steve’s own specifications, so you know the patterns are accurate. It has the ability to turn each individual candlestick pattern on or off, so you can focus on just the patterns that you’re interested in trading. You can use full or abbreviated labels (pictured below), so you can keep your charts uncluttered. Click to enlarge image. The sales page has a legend that you could reference or print out if needed, although the abbreviated labels are pretty self-explanatory. This is the most logical and elegant abbreviation system that I encountered while I was testing these candlestick pattern indicators. As you can see from the image above, the labels don’t crowd the candlesticks either. Okay, so enough about labels. How well does it identify candlestick patterns? For starters, it actually identifies all 28 patterns that it’s designed to identify. The Nison Candle Highlighter accurately identifies each candlestick pattern, as you might imagine, but it also identifies each candlestick pattern within the proper context of the market.

In other words, it won’t identify a hammer (bullish reversal pattern) after a bullish price movement. None of the other indicators that I tested could do that. Of course, it’s not perfect. For instance, if you look at the chart above you can see a couple of engulfing patterns that were nothing more than a small real body candlestick engulfing a doji or spinning top. Although those are technically engulfing patterns, they aren’t worth considering because their size is so small relative to the previous candlesticks. I tested many indicators to find the best candlestick pattern indicator for MT4. All of the free candlestick pattern indicators that I tested were terrible. Most of them seemed to have a problem with their labels in one form or another, which may not be a big deal to you. I like to keep my charts as clean as possible. More importantly, the free indicators identified candlestick patterns on the shapes of the candlesticks alone. They did not accurately identify candlestick patterns within the proper context of the market, which is crucial to candlestick trading. There is no substitute for experience and actually learning to identify these candlestick patterns for yourself.

However, an accurate candlestick pattern indicator could be very beneficial to certain traders. The Nison Candle Highlighter accurately identifies candlestick patterns within the proper context of the market, which is why I believe it’s easily the best candlestick pattern indicator for MT4. Still looking for a profitable trading system ? I've tested 10+ systems. Only 3 were profitable! Learn more about my #1 recommended trading system, Day Trading Forex Live. Best MT4 Candlestick Time Indicator (DOWNLOAD LINK) The MT4 Candlestick Time Indicator here is called b - clock_modified and it is really a useful indicator if you are one of those traders that: trades forex news or trades only on a certain hour during the day. You can also call this indicator as: candle countdown indicator mt4 mt4 bar timer or bar clock mt4 candle time remaining mt4 candle timer candle time indicator mt4 time indicator candlestick clock. How The Mt4 Candlestick Time Indicator Works. What the mt4 candle time indicator shows on your chart is what the remaining time is on the current candlestick before it closes and the next candlestick forms: so if this indicator is placed on a 1 hr candlestick chart, it will show how many minutes and seconds before the next 1 hr candlestick is formed. if the mt4 candle is placed on the 1 minute candlestick chart, it will show and countdown how many seconds remain before the next 1 minute candlestick is formed. when placed on the chart, it shows the candlestick remaining time on two locations, one on the top left hand corner of the chart and one near where the current candlestick is as shown on the chart below: Forex Trading Strategies Where The MT4 Candlestick Timer Can Be Used. Here are some forex trading strategies where the candlestick remaining time indicator can be used: Download Link MT4 Candle Timer. In case you may be interested: Check out my free forex trading signals and trade setups based on price action.

(Click that link) Ok, here’s the download link: b-clock_modified. Candlestick Pattern Recognition Settings. Updated: February 9, 2018. If you’re a price action trader who a trader who uses technical analysis, then there is a good chance you’re looking at candlestick patterns. Certain candlestick formations do give off early warning clues to the future movement of price, especially when aligned with other factors on the chart. Technical traders analyze the outcome of specific candlestick patterns that occurred in the past, and look for repeating occurrences that give the same results time over time. There are some very popular candlestick patterns used in the markets today, which are hunted down vigorously by traders – because they are known to produce certain outcomes that we can capitalize on, like price reversals or breakouts. My Battle Station tool acts as a powerful candlestick recognition indicator for MT4. It has the ability to detect popular candlestick pattern formations, and perform various quality control checks – aiding in the filtering of poor quality signals. The advantage here is the Battle station can monitor the market tick-by-tick, and as soon as a high quality candlestick pattern is detected, you will be notified about it either by: Notification on your iPhoneAndroid device Email Alert Internal MT4 Alert. In this guide, I will walk you through my Battle Station’s candlestick recognition capabilities, and how it can benefit you in your trading.

I have provided two ‘master’ switches for drawing reversal signals, and notifications sent regarding new reversal signals found. If you turn off any of the master switches, it doesn’t matter what settings you have further down the list – it is like unplugging the power cord from the wall. If the master switches are not on, the features they control will be disabled, period. A master switch is a quick way for a trader to quickly turn off a feature without having to go through all the individualized options. There are set of master switches for: Reversal Candle Patterns Inside Candles Doji Candles Breakout Events. For each group, there are separate master switches for the drawing module, and the notification module. For example: The inside candle notification master switch is turned off by default on passive 4 hour, and 1 hour scanning, to avoid excessive notifications about inside candles forming frequently on your charts. Candlestick Pattern Drawing Options. The Battle Station will mark any detected candlestick pattern (you told it to), on the chart by drawing a color coded vertical line down the center of the candle range. If you would like to change the color of the candle markers – go to Battle Station’s indicator settings (ctrl+i), and select the color tab . The color channels operate in pairs, so just make sure set each pair with matching settings . You can also change the width in the adjacent column to the color setting, making the candlestick marker draw thicker if you so desire…

Above: Change the width number to get a more emphasized vertical candlestick pattern marker. Critical Information - Please Read. Candlestick Reversal Signals Options. Probably the most chased after class of candlestick pattern are the reversal group, for good reason. Catching a nice candlestick reversal signal that has value and context within the recent price action can be very lucrative. The Battle Station can detect the following reversal signals: Classic Pin Bar Rejection Candle Engulfing Candle Outside Candle Bullish Piercing (added by request, turned off by default) Dark Cloud Cover (added by request, turned off by default) These are the most popular set of candlestick signals used by price action traders in today’s market – including us traders in the War Room. As per most features of the battle station, there is a set of options for the chart drawing, and a set of options for the notification system. Reversal candle markers can be toggled by pressing ‘r’ on the keyboard while the chart is selected and in focus. Pin Bar & Rejection Candles. These guys are the hot items of the price action trading community today. Price action traders are usually waiting for the next pin bar signal to appear on their charts. I often get asked by trader’s what the difference between a Pin Bar and a Rejection Candlestick pattern is? Think of it like this – a pin bar is a weaker version of a Rejection candle. The pin bar has a small body, and resembles that pin shape.

A rejection candle has a much more stronger anatomy – usually packing a thicker body, and simply have more bullish or bearish presence on the chart as an authority reversal signal. Long upper or lower wick Small wick at opposite end Very narrow ranged body Body is located at one end of the candle range. Long upper or lower wick to display rejection of higher or lower prices Little to no wick protruding from candle close price A thick bearish or bullish body Candle closes in direction of the reversal, eg bullish rejection has bullish body, bearish rejection has bearish body Bullish body located at top portion of candle range, or bearish body located a bottom portion of candle range. Larger in range than the surrounding candles. Notice how the rejection has a thicker body. Rejection candles usually are larger in range as well. In my experience rejection candles are a stronger signal, and have a better chance of producing a reversal. The Battle Station can detect both of these patterns on the chart and send you notifications when it finds them. Here are the options that directly effect pin bars and rejection candles. They are pretty self explanatory.

You can individually toggle drawing and notifications options. There are some passive time frame candle scanning options. More on that later in the guide. Remember: Pin Bars, and Rejection candles are effected by the global_draw_reversal_candles , and the global_notify_reversal_candles. Below are some example alerts I captured… The above two screen shots show the Battle Station picking up Pin Bar and Rejection Candle signals, and pushing them to my old iPhone. Traders report back these are very informative and really convenient alerts – which I agree with from my own experiences. Engulfing & Outside Candles. Another question that I get all the time is: “What is the difference between Engulfing Candles vs Outside Candles”?

This one can be tricky to answer, because the answer to this is heavily opinionated – there is no text book definition we can follow, they are loosely described in the industry. Therefore everyone has a different opinion on what an engulfing candle should be, and what an outside should be. However, we don’t have the luxury to be be loose with our description when programming things like a candlestick pattern recognition algorithm, you need to be very specific when to tell the code what to look for. I believe I have nailed down the best definitions between the two signals. An engulfing candle is a two candle setup Must have a higher high (if bearish) or lower low (if bullish) than previous candle Close price must be close within the top. 15% (bullish) or bottom. 15% (bearish) of the previous candle’s range. Little to no wick out of the closing price end of the candle body. An outside candle is a two candle setup Must have a higher high and lower low price than previous candle Close price must be outside previous candle’s range Little to no wick out of the closing price end of the candle body. Notice the difference between the two? It’s very subtle. The Engulfing candle first breaks the high or low of the previous candle, then shoots back in the opposite direction. It then almost closes outside the other end of the previous candles range, but doesn’t quite make it. It ‘engulfs’ the previous candles range, but does not completely close outside it. For the Outside candle however, it initially forms under the same conditions, but it must close outside the previous candles range . In my options this makes the engulfing candle a weaker version of the Outside candle signal. Here are the options that will effect engulfing and outside candles individually. Above is an example of the Battle Station pushing an alert about an outside candle that was detected. Below is an example engulfing candle alert.

I just upgraded to the OS10 on the old iPhone 5s at this time, so it has a different UI look. Breakout Catalyst Candlestick Patterns. These are a group of what I would call ‘neutral’ candlestick patterns which don’t signal a direction in their anatomy. They form when the market takes pause, and grinds in a tight range. These kind of price action patterns can lead to strong breakouts, which is why they are respected as breakout catalysts. The two main breakout catalysts the Battle Station is tuned for are: Inside Candles (single and multi-chained) Indecision Dojis. These type of candles form A LOT! That’s why their notifications are disabled by default – to prevent Battle Station ‘message spam’ If you really need alerts from these signals, feel free to turn them on in the options. The inside candle is a very common price action entity. It is probably the most common candlestick pattern that forms on your charts – hence why notifications are off by default. Inside candles need a lot of technical context, and value built into them as a trade idea.

Usually best traded from major decision points on the chart, like major supportresistance, or at swing points within a trend. Here is the criteria for Inside Candles: Candle high and low price must be within the previous candle’s high and low price range Chained inside candles can form, they must follow the same rules. If a double inside candle forms, the last inside candle must be within the proceeding inside candles high & low price range. Generally inside candles that form after an extremely large proceeding candle are discounted. Inside candles work better when they are small in range. Very simple to understand – to qualify for an inside candle, the candle range must completely be within the previous candle’s range. It’s also possible to get multiple inside candles in a row. The battle station will provide detailed information about single, double, and multi inside candle patterns. Above: Notification messages about single and double inside candle combos – there is also a custom alert sent if 3 or more inside candles form together too. If you would like to get notifications about inside candles, make sure you first check the master switch is on… Then you can modify the individual time frame options… Note: You can find an equal set of options for the chart marking of inside candles. The Inside candle markers can be toggled by pressing the ‘i’ key, when the chart is selected and in focus. Note: The ‘i’ hotkey will toggle both the single inside and multiple inside candle channel. The indecision Doji is another awesome breakout catalyst.

By default, its drawing and notification engine is switched off at the master switches. So turn these back on if you’re interested in tracking Indecision Dojis. Above: Master switches for the indecision Doji candlestick pattern. The criteria for a indecision Doji candle: Doji candles have a small body The candle body is centered within the candle range Wicks protruding out both ends of the body. Doji’s have many names, and are effective when combined with key technical areas on the chart. The reason Doji candle are switched off by default is because they form quite a lot. When they are turned on, the Battle Station will constantly be firing off alerts at you – and it can get annoying. We can reduce this by using the quality filters (more on that later) This is why I decided to make it your decision whether you want to track doji indecision candles, or not. The indecision doji candle also has settings for current time frame, and the passive time frame scanning: You can toggle the Doji Candle makers quickly by pressing the ‘d’ key when the chart is selected and in focus. Breakout Trap & Reverse Event. The breakout trap & reverse trade is something we trade in the War Room. It’s good to have alerts when this signal is close to triggering, so we have time to set up our trade. Let me explain the breakout_trap_trigger_pct option. This is the ‘threshold’ to when the notification is triggered.

As you know the breakout trap & reverse setup triggers when either the high or low of the previous candle is broken, then price snaps back the other way to break the other end of the previous candle. The breakout_trap_trigger variable is set by default to 0.9, which equates to 90%. So instead of notifying you on the breakout trap and reverse trade trigger break, the indicator will try to anticipate the breakout by letting you know when price has retraced back up or down 90% of the previous candles range. First the lows of the previous candle must be broken by the current candle. When the current candle retraces back up to the value of breakout_trap_trigger , which will be a percentage of the previous candles range, the alert will trigger. The idea is to alert you before the setup actually triggers so you have time to set up the trade. By default breakout_trap_trigger_pct is set to 90%. If you set it to 50% – then you would receive a notification when price retraced up 50% of the previous candles range. This basically means you could be notified earlier of a potential breakout, but with a setting of 50% – you would most likely get a lot of notifications that don’t develop into anything. I’ve set it to 90% by default, so the indicator alerts you - just - before the trade triggers. If you want a more conservative setting, try 75% for an even earlier warning. This is exactly the same for the bearish breakout trap pattern… The bearish scenario is basically the same, just flipped upside down. The options will affect both bullish and bearish breakout trap and reverse alarms.

Hopefully this gives you a good basic idea how the battle station candlestick pattern recognition tool works, and how it can be customized for you. The bottom line is you can walk away from your charts and allow the battle station to contact you, when it finds something of interest. Getting better quality signals. As I mentioned before, these notifications are fantastic if you don’t want to have to sit and wait in front of the charts for hours or have to keep coming back to check the charts at key times. – MetaTrader 4. . , . , . MT4 Forex – . – MetaTrader 4 Metatrader 4 (MT4) - . – MetaTrader 4 , . , . Forex Metatrader 4 : $30 , . Time End – MetaTrader 4.mq4? Time End – MetaTrader 4.mq4 Spread – MetaTrader 4.mq4 Metatrader Metatrader 4 , 4 “ ” Metatrader 4 Candle Time End – MetaTrader 4.mq4 Spread – MetaTrader 4.mq4 . Time End – MetaTrader 4.mq4 Metatrader? , Metatrader 4 “ ” . , :



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