PREETHI wrote: Wed Oct 09, 2019 2:08 pm hi, jimmy, i want to know about advantages of using mtf indicators and how to use it. please help me

Good question Preethi. Multi Time Frame indicators are beneficial because:

• They allow you to display the higher timeframe's indicator information in lower timeframes (of course).
• Using an MTF indicator on a lower timeframe allows you to pin-point your entries to trade into the "bigger" trend, on the lower timeframe.
• They help traders see higher timeframe information at a glance.
• Multi time frame indicators allow smaller timeframe traders a look at the overall market sentiment, instead of being "locked" into the view of the lower timeframe.

Example:

One of my favorite ways to use MTF analysis is with the TDI Indicator and the Floating Indicator's MTF function.

In the chart below, you would take the 5 Minute chart's TDI trades into the 4 hour TDI's signal by using the Floating Indicator and MTF.


In the floating indicator's settings, I've set the MTF to the 4 hour timeframe.
When the Floating Indicator's 4 hour TDI crosses on a "strong angle", I won't enter immediately. I'll now watch this 5 minute chart's TDI (in my subwindow) and wait until the 5 minute chart's TDI crosses into the same direction of the Floating Indicator's 4 hour TDI's cross, then I will take the trade into the 4 hour TDI's signal.

By doing this, you will reduce drawdown and you'll be able to enter trades with precision and without switching charts too often.

This same technique applies to all MTF indicators and is also a technique that XARD teaches for using his Simple Trend Following System

To sum it all up, a Multi Time Frame indicator's purpose is to allow a smaller timeframe trader to see what the larger timeframe's indicators are doing. And this reduces the need for switching charts and can be beneficial for beginners as nearly all the information needed can be shown on one screen