Hey traders! If you're looking to up your game when it comes to timing your trades, let me introduce you to the BarTimer. This handy tool displays the current time position within a price bar, helping you see how much time has passed since the start and how much is left until the bar closes.
What’s great about the BarTimer is that it not only shows you the time left but also gives you a percentage breakdown of the elapsed time compared to the entire duration of the bar. This insight can be crucial when it comes to making those all-important trade decisions.
For instance, I usually prefer to open my positions when the candlestick is around the 20% mark from the beginning or after it hits 80%. In the first scenario, I take into account the previous candlestick, while in the second, I'm focused on the current one. I’ve found that sticking to stricter guidelines on longer time frames can really pay off.
BarTimer
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