Candle Time and Spread Indicator
MT5Also Available for MT4The Candle Time and Spread indicator is an ideal time and spread tracker for Metatrader 5 Terminal.
Description
In trading, timing is everything, and massive price movements occur at certain times. For example, the price may change significantly towards the end of the trading session. For this reason, you may want to know how much time is left before the end of the session. You don’t want to be bothered by timing when tracking price changes. This is where the candle time and spread indicator comes in handy.
Candle Time and Spread is a great addition to your trading strategy for tracking time and spread. It shows how much time is left until the close of the session, and also simply shows the current spread value.
The indicator helps scalpers to know how much is left on the candles of small time frames, such as five minutes and fifteen minutes. You can use the indicator on any timeframe to trade instruments or currency pairs.
Candle Time and Spread Trade Example
The Candle Time and Spread indicator does not give trading signals. However, you can use it to organize your time based on the remaining time until the close of the candle. For example, you can exit after a few minutes to close the candle before the momentum builds up and goes against your trading position. The indicator also shows the current spread right before the current candle timer.
The figure shows the indicator on the 5-minute timeframe. According to the candlestick indicator, only one send remain until the end of the candle. Therefore, you may want to exit if you scalp during a 30 minute session.
Conclusion
The Candle Time and Spread Indicator is a useful tool for all types of traders, especially scalpers. This helps you keep track of the time to determine if it’s the perfect time to close or open a trade. This is a great addition for every trader.
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