The blahtech candle timer indicator answers one question all day. How long until this candle closes? A large readout sits in a chart corner and counts down in minutes and seconds, changing colour as the bar runs out.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 0 |
| Alerts | popup, push notification, sound |
| Inputs | 22 |
What the Blahtech Candle Timer Indicator draws on the chart
A corner panel holds the countdown at `InpBigFont` `24`.
A header line names the symbol and timeframe when `ShowHeader` is true.
`ShowPrice` and `ShowSpread` add the live bid and the current spread.
`ShowGauge` prints a text progress gauge under the clock.
How the Blahtech Candle Timer Indicator calculates its values
Bar open plus one period
The code takes the open time of the current bar, adds the length of the timeframe, then subtracts the server clock. What remains is the time left, printed as minutes and seconds.
Colour tracks the fraction left
`ColorFresh` holds while more than half the bar remains. `ColorMid` takes over between a quarter and a half. `ColorUrgent` marks the final quarter, which is when most bar-close decisions get made.
A timer keeps it moving
Price ticks alone would leave the clock frozen on a quiet instrument. A one-second pulse redraws the readout instead, so the countdown keeps ticking even when nothing trades.
How to read the signals
The clock counts the current bar only, never the session.
Colour tells you roughly where you are without reading the digits.
The spread line is the live figure, not a bar average.
This is a utility, so no plot buffers and no signals exist here.
Alert channels in this build: popup, push notification and sound, one message per closed bar.
`EnableCloseAlert` is the switch, and unusually it arrives false, so nothing fires until you turn it on. Three delivery routes exist: `EnablePopup` ships true, while `EnablePushNotify` and `EnableSound` start false. There is no mail option in this build.
Every Blahtech Candle Timer Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
InpX |
X offset (px). Horizontal offset in pixels, default `16`. | 16 |
InpY |
Y offset (px) – clears the one-click panel. Vertical offset in pixels, clearing the one-click panel, default `120`. | 120 |
Display settings
| Setting | What it does | Default |
|---|---|---|
InpCorner |
Corner (0=UL 1=UR 2=LL 3=LR). Which corner the panel anchors to, default `0`. | 0 |
InpBigFont |
Countdown font size. Size of the countdown digits, default `24`. | 24 |
InpSmallFont |
Header / detail font size. Size of the header and detail lines, default `9`. | 9 |
InpFont |
Panel font (monospace looks best). Panel typeface, default `”Consolas”`. | Consolas |
ShowHeader |
Show symbol / timeframe header. Print the symbol and timeframe line, default `true`. | on |
ShowPrice |
Show live Bid price. Print the live bid, default `true`. | on |
ShowSpread |
Show live spread (points). Print the live spread in points, default `true`. | on |
ShowGauge |
Show text progress gauge. Print the text progress gauge, default `true`. | on |
InpBgColor |
Panel background. | RGB 16,20,28 |
InpBorder |
Panel border. | slate gray |
InpHeaderCol |
Header colour. | gainsboro |
InpDetailCol |
Price / spread colour. | silver |
ColorFresh |
> 50% of the bar remaining. | lime green |
ColorMid |
25-50% remaining. | gold |
ColorUrgent |
< 25% remaining. | tomato |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableCloseAlert |
Alert when the bar closes. Message when the bar closes, default `false`. | off |
EnablePopup |
(see inputs panel) | on |
EnablePushNotify |
(see inputs panel) | off |
EnableSound |
(see inputs panel) | off |
SoundFile |
(see inputs panel) | alert.wav |
Settings that fit your chart
A countdown earns its place where bar close matters. EURUSD H1 is the reference chart, and an hour is long enough that knowing the remaining time changes decisions. On M1 the clock barely settles. Daily charts make it a patience tool.
When the Blahtech Candle Timer Indicator fails
The clock follows the server, so it can differ from your local time by hours.
A frozen feed leaves the readout counting down against stale data.
`EnableCloseAlert` ships false, so the tool stays silent until you switch it on.
Copy the compiled Blahtech Candle Timer Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Background reading on the method behind the Blahtech Candle Timer Indicator: Nexo (company) on Wikipedia, Backtesting at Investopedia.
Download the Blahtech Candle Timer Indicator for MT4 and MT5
The zip holds the compiled Blahtech Candle Timer Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
What does InpY 120 avoid?
The MetaTrader one-click trading panel, which occupies the top left of the chart. Pushing the readout down by a hundred and twenty pixels keeps the two from overlapping. Change it if you anchor to a different corner.
Why does ColorUrgent matter?
It marks the final quarter of the bar at a glance, which is when a bar-close decision usually gets made. Reading a colour is faster than reading digits when you are watching several charts.
Does EnableCloseAlert ship switched on?
No, and that is deliberate for a tool that would otherwise alert on every single bar. Turn it on and `EnablePopup` gives the terminal box, with `EnablePushNotify` and `EnableSound` available as extra routes.
What does the ShowGauge readout add?
A text progress gauge under the clock showing how much of the bar has completed. It carries the same information as the countdown in a shape some traders read faster. Switch it off to shrink the panel.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Blahtech Candle Timer Indicator as one input. Always backtest before trading live.
External references
- The core method is documented in Nexo (company) on Wikipedia.
- Additional market context is at Backtesting at Investopedia.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.