Displaying Higher-Timeframe Bar Progress as a Percentage

Summary

This MetaTrader indicator displays how much of a selected bar’s duration has elapsed, expressed as a percentage. Its input settings allow the user to choose a fixed timeframe, so the progress shown can refer to bars from a timeframe different from the chart currently being viewed. The description says the indicator uses charting and drawing library classes to render a rounded line display.

The document explains the indicator’s purpose and mentions that its first version appeared as an MQL4 indicator in 2008 before this higher-timeframe implementation. It gives no trading rules, performance results, or evidence that elapsed bar time predicts price movement. The tool is best understood as a visual aid for tracking bar timing; the description also notes that compiling it requires supporting library files in the terminal’s expected folder.

Key ideas

• The indicator reports elapsed time since a bar began as a percentage of the bar’s full duration.
• A fixed timeframe can be selected for the displayed bar data.
• The indicator is a visual timing aid and does not provide a trading signal or tested strategy.
• Compilation depends on installing the supporting library files in the MetaTrader terminal.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.