Candle Closing Time Indicator is a Metatrader 4 (MT4) indicator that helps you identify when to trade as well as when not to. The idea behind the indicator is that there are times during the day where volatility and liquidity in the market decreases as traders end their day or change shifts. Using this information we can determine whether we should be trading or not using candle closing time.
The first thing we need to do before Forex Trading we get into how this indicator works, why it works and how you can use it for your own trades is download and install it on your platform:
Candle Closing Time Remaining Indicator MT4
Now that we have installed our Candle Closing Time Indicator let’s take a look at what all the variables do so we fully understand how to use it. For this example I have swapped out our regular Forex factory time frame with a 5 minute chart to shorten Candlestick Pattern Marubozu the video and make things more simple.
First thing you will notice is that all of the inputs are set to zero, no matter what value you put into them they always return 0. This gives us a clean slate to test everything out on before we start changing values and getting serious about Keltner Channel Indicator using the indicator. The first value we want to check is ‘input period’. Remember this is for all time frames from tick charts up to monthly charts as well as intraday data from 1 minute up to 60 minutes in 5 minute steps:
Bar time Close Indicator MT4
That’s quite a range! In each of the time frames from 1 minute up to 60 minutes we have a value of 0. If you put in a different number for input period and press ENTER you will see it dynamically change on your chart:
You can try this out yourself if you want, just enter a new number into ‘input period’ and press ENTER. As soon as you do that the indicator will automatically recalculate all of its values for that specific time frame. You can choose any number Profitable Best Crypto between 1 and 60 minutes as well as tick data or anything above that one minute is fine as well but I wouldn’t go any lower than that, at least not until more testing has been done on those specific time frames. All of this is dynamic so feel free to experiment.
The next value we want to check out is ‘output period’. This tells us Buy Sell Indicator what time frame candle closing time will be in, in other words how far back in time will the indicator look when determining whether a market is open or closed.
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Once again you can try this yourself, just put a number into ‘output period’ and press ENTER. As soon as you do that your chart will update and all of the values will change according to the new timeframe specified:
It seems like an easy enough concept but it’s important that we test everything so we know for sure how it works. For example if we take a look at our 1 minute chart and set output period to 1 minute.
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