"BarTime RKH: Visualize Bar Progress & Time Elapsed for Smarter Trading!"

📘 1. Overview of the Indicator

BarTime RKH is a custom MetaTrader 4 (MT4) indicator designed to display the elapsed time and completion percentage of the current candlestick (bar) in real time. It helps traders track how much of the current bar’s time has passed, which is useful for:

Timing entries/exits near bar close.

Avoiding late trades when a new bar is about to form.

Monitoring bar progression in a visually intuitive way.

🔹 Type: Utility / Time-based indicator (non-predictive).

🔹 Key Features:

✔ Displays a progress bar with a moving cursor (|) indicating elapsed time.

✔ Shows percentage completion (e.g., "50%") of the current candle.

✔ Customizable font, color, size, and position for seamless chart integration.

⚙️ 2. How the Indicator Works

Logic & Algorithm:

The indicator calculates the time elapsed since the current bar opened (TimeCurrent() - Time[0]).

It converts this into a percentage relative to the bar’s total duration (e.g., M1 = 60 sec, M5 = 300 sec).

A text-based progress bar (:...:...:...:...:) is dynamically updated, with a moving | marker.

Visual Output:

A label showing:

The progress bar (e.g., :...:|...:...: 50%).

The percentage completed (e.g., "50%").

The developer’s signature (R.KH 1001) is displayed separately in the bottom-right corner.

Interpretation:

Near 100%? The current bar is about to close; a new one will form soon.

Low %? The bar is still developing—wait for confirmation before trading.

🖥️ 3. How to Use / Run the Indicator

Installation:

Download the .mq4 file.

Copy it to MetaTrader 4 MQL4 Indicators.

Restart MT4, then drag & drop the indicator onto a chart.

Recommended Usage:

Best Timeframes: Works on all timeframes (M1, M5, H1, etc.).

Best Markets: Forex, stocks, crypto—any market with time-based candles.

Does it Repaint? No—it only updates in real time.

🛠️ 4. Input Parameters & Settings

ParameterDescriptionDefault Value

FontNameFont style for the progress bar.Arial Narrow

FontSizeText size.25

FontColorProgress bar color.Aqua

CornerChart corner for positioning (0-3).0 (Top-left)

XDistanceHorizontal distance from corner.10

YDistanceVertical distance from corner.10

Customization Tips:

Use bright colors (e.g., Red, Yellow) for better visibility.

Adjust Corner if the indicator blocks price action.

📌 5. Additional Notes

⚠ Limitations:

Only for MT4 (not MT5).

Does not predict price—only tracks time.

💡 Pro Tips:

Combine with support/resistance levels for better entries.

Useful for scalpers trading near candle closes.

🧑💻 6. Developer Info & Source

Developer: R.KH 1001

Website: https://www.robomql.com

Enjoy tracking bar progress with BarTime RKH! 🚀