Candle Time End and Spread MT4 Indicator Forex MT4 Indicator

Introduction to candle time end and spread indicators
Scalping is not that difficult. What makes scalping trading seem even more difficult is that traders often trade without considering transaction costs, namely spreads.
This candle time end and spread indicator can help scalpers correctly time their trades and evaluate spreads effectively.

What are candle time end and spread indicators?
As the name suggests, the Candle Time End and Spread indicator is a custom technical indicator that displays the time remaining until the end of the current candle and the spread for the currency pair, commodity, index or other tradable instrument you are trading.

How do candle time end and spread indicators work?
The Candle Time End and Spread indicator measures the difference between the current time and the start time of the next candle. It then displays that time difference in the lower right corner of the chart, indicated as "Next Bar."

The indicator also calculates the spread, which is basically the difference between the buying price and the selling price. It does this by subtracting the broker's bid and ask prices. This difference is displayed in pips, which is how MT4 measures price differences. The difference is also shown in the lower right corner of the chart labeled "Spread:".

Traders can also modify the text color on the Clock Color variable under the Inputs tab of the indicator settings. You can also move the position of the text to the upper right corner by changing the Corner variable to 1.

How to Use Candle Time Ending and Spread Indicators for MT4
Candle time end information is useful for traders who need candle closes to confirm their trade setups. This includes trade setups based on reversal candlestick patterns, as well as momentum breakouts and reversals. This information applies to all time frames.

However, spread instructions become more useful for traders who trade smaller price movements with shorter trading durations. This information is crucial for scalpers who trade on lower timeframes such as the 5-minute and 1-minute charts, or even for day traders who trade on the 15-minute to 1-hour charts.

Using this information, traders should only trade when the trade setup is valid at the close of the candle and the potential profit is still high even when the spread is included in the trade.
Please note that when you open and close trades you will incur spreads.

Purchase transaction settings
When to enter?

Identify bullish trading setups such as momentum breakouts or candlestick reversal signals. Evaluate whether your take profit target covers the cost of spreads. Open a buy trade at the close of the candle. Place a stop loss on the support below the entry candle.

When to quit?

Set a take profit target based on the trade setup and allow the price to reach that target.

Sell ​​trade setup
When to enter?

Identify bearish trading setups such as momentum breakdowns or candlestick reversal signals. Evaluate whether your take profit target covers the cost of spreads. Open a sell trade at the close of the candle. Place a stop loss at the resistance level above the entry candle.

When to quit?

Set a take profit target based on the trade setup and allow the price to reach that target.

in conclusion
This indicator is useful for scalpers who need to know whether their projected profits cover their spread-based trading costs.
 

MT4 indicator download instructions
Candle Time End and Spread MT4 Indicator is a Metatrader 4 (MT4) indicator, the essence of this technical indicator is to convert accumulated historical data.
Candle Time End and Spread MT4 Indicator provides an opportunity to detect various peculiarities and patterns in price dynamics that are invisible to the naked eye.
Based on this information, traders can assume further price movements and adjust their strategies accordingly.

The MT4 installation directory/MQL4/Indicators is the indicator folder (place mq4 and ex4 indicators)
The MT4 installation directory/templates is the template folder (where tpl template files are placed)
Then restart the MT4 platform, and your technical indicators or templates will be installed.
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