Complete MT4 Candle Timer Indicator Rundown (free download)

Complete MT4 Candle Timer Indicator Rundown (free download) post
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A countdown timer is one of the essential tools that most traders will need and surprisingly it is not even  built into MT4. In this guide we set out why it is important to have and give 5 great (and free) options to choose from. If you are looking for a candle timer – you will find what you need here!

What Are The Best MT4 Candle Timer Indicators?

The most fully featured candle timer indicator on the list is the Blatech Candle Timer, you are unlikely to want any more from a candle timer indicator. Nothard Trading’s free indicator is also a solid performer without feature overkill.

Indicator Alerts Placement Options Shout Out Features
Blahtech Candle Timer (MQL5 Marketplace) Multiple Alert Types 4 Corners and Active Candle Change colour for countdown or Bull/Bear
NothardTrading.com Candle Timer Yes Active Candle A solid performer. Everything you need without feature overkill
Admiral Candle Countdown Yes 4 Corners and Active Candle Can display countdown from multiple timeframes
Candle Time End And Spread (MQL5 Marketplace) No 2 Corners (Right Side) Displays spread
Candle Closing Time Remaining (fxdayjob.com) No 4 Corners Displays current server time

Best MT4 Candle Timer Indicators Comparison

Despite this being the most basic of indicators it worth reviewing why having it is such a vital tool in the traders kit.

To skip straight to the downloads, click here.

Why Timing Is So Important In Trading

Trading is a real waiting game and timing of trades is always important. If you have any experience in trading you will know even if you call the direction of a market correctly, you can still lose a trade if the timing is off.

A key tool for trading is technical analysis and many traders will be looking for a good signal from an indicator or the completion of a candle pattern in order to get the best entry. What many beginner traders sometimes forget is that many of these patterns are not complete until the candle that you are waiting on is closed.

This is where the candle timer comes into play allowing the trader to see at a glance exactly how much time is left prior to the close and the potential completion of a pattern which could signal your entry.

Candle Timer Trading Example

In this example below, you can see an indicator showing a potential entry (green arrow) on a candle that has not yet closed.

Pin Bar Potential Sell Signal chart example
Pin Bar Potential Sell Signal chart example
Market Turn Chart Example
Market Turn
Market Closed - The Pin Bar Signal No Longer Valid
Market Closed - The Pin Bar Signal No Longer Valid

However, markets can turn quickly! By the time the candle closed the signal was no longer valid.

Candle Timer Frees Up Your Time

Another important factor in trading is stress and burnout. There are many traders out there who feel that they need to have their eyes glued to the screen for hours on end.

This is another great reason to use a candle timer. By having the timer on, you can quickly see how much time you have left before the candle closes and take the opportunity to step away from the computer.

This can seem like a small thing, but being able to get up, have a break and clear your head will be invaluable to you over time to manage stress. Being able to walk away from the screen is definitely an important factor in trading psychology. You can read more about Trading Psychology in our article, link here

If you still can’t relax when you take your eye off the screen? Don’t worry, that’s where alerts come in.

Candle Timer Alerts

Alerts are a built in feature of MT4 that many people fail to use to their advantage. 

There are many way to use Alerts and notifications to help your trading and you can find a full article dedicated to the alert and notification features of MT4 here: Mt4 Alerts And Push Notifications Full Guide Desktop Mobile Email.

Alert Options:

Indicator New Candle Alert Email Alert to App Pre End of Countdown Alert
Blahtech Candle Timer (MQL5 Marketplace) Sound only Popup and Sound Yes, with text customisation Yes No
NothardTrading.com Candle Timer Sound only Popup and Sound No No Yes, 1 minute
Admiral Candle Countdown Popup no sound Popup and Sound No No Yes, customisable
Candle Time End And Spread (MQL5 Marketplace) No Alerts No Alerts No Alerts No Alerts
Candle Closing Time Remaining (fxdayjob.com) No Alerts No Alerts No Alerts No Alerts

Free Candle Timer Alert Options Comparison Table

Candle Timer Placement Options

As with any indicators that output a form of text, there are many variations in how developers choose to implement the output.

Text outputs are generally put into one of the four corners of the active MT4 chart window. However, with this particular indicator the most preferred option we have had from people is for it to be in line with the active candle.

Candle Timer Indicator Positions on chart example
Admiral Markets Candle Timer Positions

This dynamic option draws the eye to the active candle and it’s impending countdown, which is the whole point of the indicator.

Handy Hint: In order to see the countdown next to the active candle, you will need to use chart shift.

Another customisation for placement is X and Y shift. This common input parameter allows the user to adjust the placement of a text output on a chart:

  • X Shift  = adjust horizontally (left or right)
  • Y Shift = adjust vertically (up or down)
Customization for placement of text for Candle Timer Indicator (up or down)
Customization for placement of text for Candle Timer Indicator (up or down)
Customization for placement of text for Candle Timer Indicator (left or right)
Customization for placement of text for Candle Timer Indicator (left or right)
Indicator Active Candle 4 Corners X and Y Shift
Blahtech Candle Timer (MQL5 Marketplace) Yes Yes Both for corner placement Fixed option for active candle
NothardTrading.com Candle Timer Yes No X shift
Admiral Candle Countdown Yes Yes Both
Candle Time End And Spread (MQL5 Marketplace) No No, top and bottom right only No
Candle Closing Time Remaining (fxdayjob.com) No Yes No

Free Candle Timer X and Y shift Options Comparison Table

Candle Timer Customisations

Before we wrap up with all the links and additional features it is worth mentioning text customisations options.

Generally with any indicator the main input customisations that people worry about are those specific to the indicator function. In this case we have discussed these already (such as placements and alerts).

However, text customizations are really important for two good reasons. The first is that most traders (myself included) are very particular about how we like our charts to look and the text size and colour are important to the look and feel of your chart.

The second point is related to the first in that many traders will customise their chart backgrounds. What this means is that the text of many indicators will be unreadable if your chart background is the same colour as the text. So being able to change it is a must.

Added extras are the ability to change the text size, use bold or change font.

All the indicators on our list have basic colour options. Blatech, NothardTrading and Admirals have additional further text customizations as well.

Wrap Up: Special Features and Links

The great advantage of MT4 is the fact that there is such a large developer base which means you can find a custom indicator to do practically any function you can think of.

This can also be a disadvantage as no two custom indicators are likely to be the same or meet everyone’s expectations. Some people like more functionality and some just want the basics and no extra clutter.

Below is we give the final round up of our Candle Indicators with download links for each and any special features that are worth mentioning. Which one will you decide to use?

Blatech Candle Timer (MQL5 Marketplace)

Features: The best alert features and the change of colour for the final 10 seconds is a nice touch. Overall, the most fully featured candle indicator.

How to get it: At the time of publishing, this is a free indicator and you can get more information and access the download here: Blatech Candle Timer.

Note: the download will open your MT4 and install via the marketplace. You can also install this by searching the Market Tab in your MT4 console:

Blatech Search in the Market Tab in MT4 Console
Blatech Search in the Market Tab in MT4 Console

Nothard Trading Candle Timer

Features: Ability to pre-set a range of colours depending on alert conditions or no data (out of hours). This is a solid indicator which does the intended job without too much extra fuss.

How to get it: Visit indicators page: LINK HERE.  

See the download instructions in the Related Questions section below.

Admiral Candle Countdown

Features: The only indicator of the bunch that allows you to choose the timeframe for the countdown even if it is different to the current chart timeframe. Overall another solid performer.

How to get it: This indicator is only available as part of the excellent Admiral Markets MT4 Supreme Edition package. You can access it here: Admiral Markets MT4 (choose Supreme Edition).

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Candle Time End And Spread (MQL5 Marketplace)

Features: Displays the spread of the current symbol. A basic indicator and the additional feature is of limited use.
How to get it: At the time of publishing, this is a free indicator and you can get more information and access the download here: Candle Time End And Spread. 

Candle Closing Time Remaining (fxdayjob.com)

Features: Can display the current server time. A basic indicator with a neat additional feature.

How to get it: At the time of publishing, this is a free indicator and you can get more information and access the download here: Candle Closing Time Remaining.

Related Questions

How to install your indicator?

Below is the quick guide how to install your indicator (note custom indicators can only be installed on desktop PC). A full rundown of how to find, install and use MT4 custom indicators and EAs (step by step with pictures) you can find in our article here: LINK.

Quick Installation Guide:

  • Download the indicator you want by following the appropriate link. Note for correct attribution we only offer a direct download of the Nothard Trading indicator on this page. All other indicators are linked to their source pages
  • Save the file on the computer in a location you can find
  • Copy the file into your MT4 indicators folder. This can be found by clicking File > Open Data Folder in your MT4 Terminal, then navigate to the folder MQL4 > Indicators
  • Close the file and restart your MT4 terminal
  • To use the indicator select it from either the Navigator Window or use the file menu by clicking Insert > Indicators
  • Apply to any chart you want to use it on

Handy Hint: Once an indicator is installed on a chart, use the keyboard shortcut Ctrl+I to remove, or change the settings.

Disclaimer and Affiliate:

Affiliate Links:

In this article we recommended some links to Admiral Markets which are affiliate links. This means we may receive a commission in some instances.

Disclaimer:

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Trading financial instruments offered by Admiral Markets (CFDs, ETFs, stocks) carries a high level of risk which is not suitable for all investors due to their complex nature. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks involved. Read more at www.admiralmarkets.com.

Justina Nothard

Justina Nothard

Hi, I’m Justina Nothard, a retail investor trading Stock Index Futures.

I understand how hard it can be for the ordinary trader to learn the basics and find useful tools and practical information.

This is why I decided to create Nothard Trading to help you take control of your trading.

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