This information is vital for scalpers trading on the lower timeframes such as the 5-minute and 1-minute charts, and even for day traders trading on the 15-minute to 1-hour charts. The Spread indication however becomes more useful for traders trading on shorter trade durations for smaller price movements. This information is applicable across all timeframes. This include trade setups based on reversal candlestick patterns, as well as momentum breakouts and reversals. The Candle Time End information is useful for traders who need the close of a candle to confirm their trade setups. How to Use the Candle Time End and Spread Indicator for MT4 The placement of the text can also be shifted to the upper right corner by changing the Corner variable to 1. Traders can also modify the color of the text on the Clock Color variable under the Inputs tab of the Indicator Settings. The difference is also displayed on the lower right corner of the chart labeled as “Spread:”. This difference is displayed in Points, which is how MT4 measures price differences. It does this by subtracting the broker’s bid price and the ask price. This indicator also computes for the spread, which is basically the difference between the bid and the ask price. It then displays that time difference on the lower right of the chart indicated as “Next Bar in”. The Candle Time End and Spread indicator measures the difference between the current time and the time the next candle would begin. How the Candle Time End and Spread Indicator Works? Just as its name suggests, the Candle Time End and Spread indicator is a custom technical indicator that displays the time remaining until the current candle will end, as well as the spread for currency pair, commodity, index, or other tradeable instrument you are trading. What is the Candle Time End and Spread Indicator? This Candle Time End and Spread indicator can help scalpers time their trades correctly and asses the spreads effectively.
What makes scalping seemingly more difficult is that traders often trade not taking into consideration the cost of trading which is the spread. 5.3 Recommended Options Trading Platform.5.2 Recommended Forex MetaTrader 4 Trading Platform.5.1 MT4 Indicators – Download Instructions.4 How to Use the Candle Time End and Spread Indicator for MT4.
2 What is the Candle Time End and Spread Indicator?.1 Introduction to the Candle Time End and Spread Indicator.
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