Using a Vertical Bar Timer to Track Higher-Timeframe Progress

Summary

This document describes a vertical bar-timer indicator that displays how much of a selected bar’s duration has elapsed. It supports a fixed timeframe whose data can be chosen through input parameters, so a chart can show progress through bars from a higher timeframe. The scale changes color as the displayed progress rises or falls, and the indicator can produce a sound alert when a new bar begins.

The implementation extends a canvas drawing library with separate classes for the upward and downward visual variants. The document describes the indicator’s display behavior and its intended alert, but offers no trading rule, performance test, or evidence that bar progress predicts price movement. It also notes that the code depends on accompanying library files being installed in the MetaTrader terminal, which limits its usefulness outside that platform and setup.

Key ideas

• The indicator visualizes elapsed time as a proportion of a selected bar’s full duration.
• Its timeframe can be configured independently of the chart timeframe.
• The scale uses separate rising and falling visual variants with color changes.
• A sound alert can signal the start of a new bar.
• The description provides no evidence that the display creates a trading edge.

Tags

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