How to check if a new candle has been opened from an MT4 Expert Advisor

When programming an MT4 robot, you often need to perform certain actions only at the beginning of a new candle. This can be either for execution speed reasons or because of the logic flow of your trading system.

Here is a boolean (true/false) MQL4 function that returns true whenever a new candle has closed/opened on the given timeframe:


bool IsNewCandle(int tf=0)
  {
   static datetime timeLastCandle=0;
   if(iTime(Symbol(),tf,0)==timeLastCandle)
      return (false);
   timeLastCandle=iTime(Symbol(),tf,0);
   return(true);
  }

Let me know if you would have done it differently.