AW CANDLE TIME INDICATOR, INSTRUCTION AND DESCRIPTION. – Trading Systems – 8 August 2023

Our YouTube channel with product instructions -> [ YouTube ]

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In this guide, we will analyze all the input settings of the indicator. In general, input settings are divided into thematic blocks, each of which contains grouped thematic settings. Such a grouping allows you to quickly figure out where this or that adjustment is located.

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Advantages:

• The indicator has a wide range of settings, which allows you to customize the visual component for the convenience of the trader.

• Displaying the time until the end of the candle on the current timeframe and a plug-in display of the time until the end of the candle on two additional timeframes.

• The AW Supertrend multi-timeframe trend indicator is built-in and tints the text labels of timeframes in the colors of their direction.

• Display of the current server time of the broker, changeable by location on the chart and adjustable font size.

• Flexible arrangement of elements arrangement. The display can be configured next to the current price or in any corner of the chart, which is conveniently adjusted in the input settings.

• Built-in sound notification and additional coloring of the time before changing the candle, the number of seconds can be adjusted in the input variables.

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Strategy:

1) Trend filtering

The AW Candle Time indicator is a multi-timeframe timer until the end of a candle with a built-in trend indicator. We have built in the AW Supertrend indicator in order to display not only the time until the end of the candle on a certain timeframe, but also the direction of the trend in a multi-timeframe form.

2) The direction of the candles is bullish / bearish

The indicator has a built-in function for repainting text labels depending on the direction of the candle on different timeframes. That is, one label color for bullish candles and another for bearish ones. Thus, the indicator can show the direction of the candles of other timeframes.

3) No filtration

Basically, the indicator was created exactly as a timer for the time until the end of the candle and can, if necessary, use only this minimal functionality. If there is no need for a multi-timeframe display of the trend or server time, then change it in the input settings.

4) Changing the timeframe

In addition, to display the upper and lower text labels, the ability to select a timeframe from M1 to MN1 is built in.

Changing the timeframe when displaying the upper and lower text labels is available for all work options: without filtering, with trend filtering, and with filtering by candlestick direction. Thus, it is possible to run the indicator on M30 and run multi-timeframe elements, for example, on H4 and D1, in order to use trend direction filtering from these timeframes by defining entry points on M30.

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Input settings sections:

Main settings

Main – Section of the main settings of the indicator. The main location and strategy settings are located here.

Candle_Time_Location – The location of the timestamps until the end of the candle time, the following options are available:

Left_Upper_Corner – Location in the upper left corner of the chart.
Right_Upper_Corner – Location in the upper right corner of the chart.
Left_Lower_Corner – Location in the lower left corner of the chart.
Right_Lower_Corner – Location in the lower right corner of the chart.
At_the_price – Location to the right of the current price on the chart.

Trend_Strategy – Strategy for recoloring text labels, the following options are available:

No_colored – No recoloring of text labels.
Colored_by_candle_direction – Recolor labels according to bullish/bearish candle direction.
Colored_by_supertrend_direction – Recolor labels in accordance with the direction of the trend according to the AW Supertrend indicator.

Show_Server_Time – Enable or disable the display of the label with the server time.

Server_Time_Location – The location of the text label that displays the server time. Can be in one of the four corners of the graph.

Candle Time

Candle_Time – The section for setting the timestamp until the end of the candle of the current timeframe.

Show_used_trend_mode_in_this_label – Show selected trend mode on this label or not. If enabled, the trend or direction of the candlestick will be displayed on the mark when the corresponding setting is selected in the Main Settings.

Font_Size – Font size for the text timestamp until the end of the candle of the current timeframe.

Upper Time

Upper_Time – Top label settings section for multi-timeframe work. Displays the time until the end of the candle on an additional timeframe. Can be used for multi-timeframe time and trend filtering.

Show_Upper_Time_Text – Enable or disable the display of the upper label of the additional timeframe.

Upper_Timeframe – Choice of timeframe for the upper label. There are two setting options:

_Nearest_ – Show the nearest upper timeframe. For example, you launched the indicator on H1, the nearest upper one will be H4. If you launched the indicator on M1, the nearest top one will be M5. With this setting, the upper label of the additional timeframe will be automatically hidden when the MH1 timeframe is launched – since there is no higher timeframe.
Selecting a timeframe from the list, options are available from M1 to MH1 inclusive.

Show_used_trend_mode_in_this_label – Show selected trend mode on this label or not. If enabled, the trend or direction of the candlestick will be displayed on the mark when the corresponding setting is selected in the Main Settings.

Font_Size – Font size for the top text timestamp until the end of the candle.

Angle_upper_label – Angle of inclination of the upper label relative to the middle one in the display mode “Candle Time Location” = “At the price“.

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Lower_Time

Lower_Time – The bottom label settings section for multi-timeframe work. Displays the time until the end of the candle on an additional timeframe. As well as the top label can be used for additional filtering.

Show_Lower_Time_Text – Enable or disable the display of the lower label of the additional timeframe.

Lower_Timeframe – Selecting a timeframe to display. There are two setting options:

_Nearest_ – The nearest smaller timeframe relative to the current one. That is, for work on H1, the label will display data on M30. To work on D1, the label will display data on H4, automatically changing the timeframe for the lower label relative to the current one. When launched on M1, the label will be automatically hidden, since M1 is the smallest of the timeframes pre-installed on the trading terminal.
Selecting a timeframe from the list, options are available from M1 to MH1 inclusive.

Show_used_trend_mode_in_this_label – Enable or disable recoloring of the checkmark text color according to the trend strategy selected in “Trend_Strategy“.

Font_Size – Font size for the bottom text timestamp until the end of the candle.

Angle_lower_label – Angle of inclination of the bottom mark relative to the middle mark in the display mode “Candle_Time_Location” = “At_the_price“.

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Supertrend_Settings

Supertrend_Settings – The ability to display the direction of the trend according to the AW SuperTrend indicator is built into the indicator of time until the end of the candle. This section of the input settings contains all the adjustments of the trend indicator.

This indicator is built into AW Candle Time and will work within it without any restrictions. This product is also available as a standalone indicator and is provided free of charge by us. A link to the AW SuperTrend page will be located at the bottom of this article.

_Period_ – Period of the trend indicator. It is the main adjustment of signal sensitivity. The smaller the value, the faster a new trend will be detected, but at the same time, the more short-term fluctuations and corrections will be perceived as new signals. The higher the value, the less the indicator will be exposed to market noise and the less it will give signals.

_Multiplier_ – Multiplier of the trend indicator. Second adjustment of signal sensitivity. The more – the deeper the filtration. In most cases – you can use the default value by adjusting the sensitivity with   Period .

Max_bars_for_calculation – The number of candles on the basis of which the current trend direction will be calculated.   In most cases – you can use the default value .

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Alerts

Alerts_Settings – The indicator has built-in sound notifications about the approaching closing time of the current candle, these notifications can be configured to be activated for a certain period of time before the candle closes, and also give them a separate sound signal.

Sound_alert – Enable or disable sound notification of a new candle.

Seconds_before_new_candle_for_alert – How many seconds before the start of a new candle to send a sound notification.

Custom_alert_sound – This variable allows you to set custom sound for alerts. There are various sound files in the terminal library, among which you can choose the sound for notifications. If there is no value in this variable, the default value will be launched, that is, this variable can not be changed unnecessarily.

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Last_Seconds

Last_Seconds_Settings – The section for setting the repainting of candles for a specified period before the closing time of the candle. At a certain time before the close of the candle, text labels can be tinted with brighter colors to signal the close time of the candle is approaching.

Painted_last_seconds – Enable or disable repainting of text labels for a specified interval before the end of the candle before the end of the candle.

Last_seconds_for_paint – How many seconds before the end of the candle to repaint text labels in brighter colors.

up_color_last_seconds – A brighter color for an uptrend.

Down_color_last_seconds – A brighter color for a downtrend.

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Graphics

Graphics_Settings – Section for setting indicator graphics, padding, colors and prefixes.

Font_Size – Font size for text labels.

_Color_ – Primary color for text labels.

Up_color – Primary color for an uptrend or bullish candle.

Down_color – The main color for a downtrend or a bearish candle.

X_Server_Time – Horizontal offset for server time stamp.

Y_Server_Time – Vertical offset for server time stamp.

X_Time – Horizontal indent for the time stamp until the end of the candle (when located at the corners of the chart).

Y_Time – Vertical offset for the time stamp until the end of the candle (when located at the corners of the chart).

Y_offset_between_Time_labels   – Indent between timestamps until the end of the candle   (when located at the corners of the chart).

Upper_prefix_text – Text prefix for top text.

Lower_prefix_text – Text prefix for bottom text.

X_offset_in_candles – Horizontal indent in candles for timestamps until the end of the candle (when located near the current price).

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Links:

Indicator for both platforms -> [ MT4 Version ] [ MT5 Version ]

More of our products -> [ Our Products ]

Our YouTube channel with product instructions -> [ YouTube ]

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