Time Indicator for MT4

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Time Indicator for MT4

Introduction to the Time Indicator

Certain market hours tend to have more volatility than others. This includes the opening of large markets, as well as news releases. However, this requires timing.

The Time Indicator is a tool that can help traders time their trades accordingly.

What is the Time Indicator?

The Time Indicator is exactly what its name suggests. It is a very simple technical indicator which indicates time. It displays the current Local Time, which is the time based on the time zone you are trading from, as well as the Server Time, which is the time based on the time zone of the broker’s server.

How the Time Indicator Works?

The Time Indicator has a simple program script that retrieves time from your computer and uses that as the Local Time. It also retrieves the time from the broker’s server and uses that information as the basis for the Server Time.

The indicator then displays the Server Time and Local Time on the upper right corner of the price chart, with the Server Time being above the Local Time. The current date of the server and the local date is also displayed along with the time. Both Server Time and Local Time are also displayed in military time. The Server Time is preset to be displayed in red, while the Local Time is preset to be displayed in lime.

Time Indicator for MT4

The Time Indicator allows some visual modifications within its settings. It allows traders to change the color of the Broker Time and the Computer Time, modify the distance from the left edge of the price chart, as well as change the Zoom Level (Font Size) of the time displayed.

How the Time Indicator Works

How to use the Time Indicator for MT4

The Time Indicator is not intended to be used for identifying trade setups. It does not provide trend or momentum reversal signals. It also does not identify overbought or oversold price levels.

The Time Indicator is intended to be used merely to provide the current time to traders. This can be useful for traders who would want time their trades based on the open or close of major markets, trade based on news releases, or whatnot. Traders simply have to use other trade setups to identify trade entries exits.

Buy Trade Setup

When to Enter?

Do not use the Time Indicator as a basis for entering a trade. Instead, use it to time a bullish trade setup wherein market volatility is more likely to occur. This includes the open of major markets and news releases. Open a buy order as bullish momentum develops during these hours. Set the stop loss on a support level based on the trade setup.

When to Exit?

Exit the trade based on the trade setup.

How to use the Time Indicator for MT4 - Buy Trade

Sell Trade Setup

When to Enter?

Do not use the Time Indicator as a basis for entering a trade. Instead, use it to time a bearish trade setup wherein market volatility is more likely to occur. This includes the open of major markets and news releases. Open a sell order as bearish momentum develops during these hours. Set the stop loss on a resistance level based on the trade setup.

When to Exit?

Exit the trade based on the trade setup.

How to use the Time Indicator for MT4 - Sell Trade

Conclusion

This indicator is not necessary if what you want is a trade signal. However, this can be useful for timing trades when volatility is more likely to occur.

MT4 Indicators – Download Instructions

Time Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.

Time Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT4 Strategies

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How to install Time Indicator for MT4.mq4?

  • Download Time Indicator for MT4.mq4
  • Copy Time Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader 4 Client
  • Select Chart and Timeframe where you want to test your MT4 indicators
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
  • Right click on Time Indicator for MT4.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Time Indicator for MT4.mq4 is available on your Chart

How to remove Time Indicator for MT4.mq4 from your Metatrader Chart?

  • Select the Chart where is the Indicator running in your Metatrader 4 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Time Indicator for MT4 (Free Download)

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