The P4l Candletime indicator is excellent for tracking the movement of chart candlesticks and identifying good trading entry points. In addition, it allows you to determine the remaining time before the chart candlestick’s closure.
Why should you use the forex P4l Candletime indicator?
As with other aspects, timing is crucial in life. Therefore, it is essential to use the forex P4L CandleTime indicator MT4 to be a good option to add to tools for trading. The indicator is easy to use but highly efficient.
The name suggests the forex indicator displays the remaining time before the candlestick ends. You can use it for any time frame and mt4 currency pairs. Furthermore, the hand is suitable for forex day traders and scalpers. But it does have a distinctive feature. In contrast to other forex indicators, it does not offer sell-and-buy signals.
In addition to chart candle time, these names are also known as candlestick clock time forex indicator and candle time remaining— chart candle countdowns, bar clock bar timer, and candle timer.
Trading with P4l Candletime:
Although the indicator doesn’t signal selling or buying, it can be a very helpful instrument for organizing forex trading schedules. This indicator is useful if you’re an active price trader. For instance, trading on a 1-hour time frame will inform you of how many a number of minutes remain until the end of the chart candlestick. Monitoring the next chart candle’s pattern on timeframes with short durations could result in a profit or loss for scalpers.
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As you know, the forex 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 the 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 within one hour. According to the indicator, only 15 minutes and 37 seconds remaining before the candlestick close.
Inputs of P4l Candletime
The following table shows the indicator input parameters.
Conclusions
The P4L Candletime indicator is a distinctive yet handy indicator. It will alert you to the time remaining before the closing of the current candle.
