Then, it calculates for the difference between the projected open time of the next candle and the current time on the broker’s server. It also retrieves the time when the next candle would begin. The Candle Timer indicator works by retrieving the time from the broker’s server. The Candle Timer indicator is a custom technical indicator which displays the remaining time before the current candle would close. This is why traders need to avoid trading when the candle is still far from closing, and the Candle Timer indicator can help us do this. However, this type of trading only works when the actual pattern is confirmed, and patterns are only confirmed when the candle closes. This is because the closing price confirms the direction of the market with the context of the other parts of price action, such as the highs, lows, and opens.
In fact, it is common for professional swing and position traders to discuss only the open and close price. Most professional traders place a very high importance on the closing price in relation to the opening price. Introduction to the Candle Timer Indicator For MT5
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