Multi Timeframe Candle Close Time

Multi Timeframe Candle Close Time

When trading price action or using price action triggers such as Pbars, Inside Bars, Shaved Bars, etc. it is important to always wait for the bar/candle to close more than anything else.It is often the case (whether it’s the 4H, hourly, etc) that price action will be dominant in one direction for the majority of the candle only to reverse strongly at the end of the candle.  Institutional traders know retail traders are less disciplined than they are. They know a good trading candle pattern could be forming and will often trap traders into believing that candle is an engulfing candle or reversal candle and then quickly move price in the last minute or 5minutes of the candle only to change it drastically with traders stuck or trapped into a certain direction hoping for higher/lower prices.

It is also often the case the markets will reverse at the end of a session or major candle as traders are paring back positions before market close as they want to be flat going into the close. When they do this, if the market was moving heavily bullish for the day, you will often see price dip a bit in the last 30 minutes or less of a session as the institutions are going flat into the close. Furthermore, a lot of trading today is done via algorithms which will often as well exit their positions causing strong spikes in price going into market closes.

Such price action patterns are common and by waiting for the candle to close. If the trading candle pattern is still forming, unless your system is specifically tailored to getting in mid-candle, it is often recommended to wait for the candle to close because up till that point, anything can happen and the formation of the candle and price action signal can change drastically. Lastly, if something is strong into the close, once the candle closes, it often displays the final  intentions of the market in the current move. Therefore, knowing about the time left to the close of the candles in different timeframes and being notified about it can be a major help.

Multi Timefame Candle time indicator demonstrates the time left to the closure of the candles of the M1, M5, M15, M30, H1, and H4 timeframes. Additionally, it provides an adjustable alert system which notifies the user about the upcoming end of a candle time in the chosen timeframe.