Bar Timer indicator identifies the time-frame of the chart on which it is attached. Then calculates the duration of the candle of the chart time-frame in seconds. Next, it detects the number of seconds that have elapsed in the current candle. This is achieved by subtracting the current server time from the opening time of the current candle.
For example, if the indicator is attached to a 15-minute chart, the duration of each candle is 900 seconds (15 minutes multiplied by 60 seconds per minute). The opening time of the latest candle is retrieved and subtracted from the current server time. For example, if the current server time is 10:07:32, and the opening time of the current candle is 10:00:00, then 452 seconds (7 multiplied by 60 plus 32) have elapsed for the current candle. Finally, this is divided by the duration of the candle and expressed as a percentage. So the indicator displays 50.22% (452 divided by 900).
This indicator ensures that the trader is aware of the time remaining before the closing of the current candle and can manage their trading positions accordingly. It is observed that a large number of traders who trade enter and exit trades manually do so at the close of the candle. By attaching this indicator to the chart, the trader is now aware of the amount of time left before the close of the candle and can take decisions accordingly.
The indicator also provides a simple tutorial illustrating the ease of programming chart objects using the VertexFX Trading Language (VTL). The indicator uses the LABEL and RECTANGLE graphic objects and demonstrates how to create these two chart objects, set their positions and sizes, and properties like color, font name, and font size.
The user can configure the font-size, and the location of the output using the FSIZE, XDISTANCE and YDISTANCE input parameters respectively.
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