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Re: MT4 Multi Time Frame (MTF) Indicators

#561
mrtools wrote:
Thu Aug 17, 2017 9:08 am
Sanni123 wrote:
Wed Aug 16, 2017 11:27 pm
Is there an MTF version of this indicator, I have tried changing fractal period to represent high time frames, its not the same.
Thanks
Sanni123, added mtf and made it user friendly.
Hi Mrtools,
Could you please provide a feature that a user can choose to select to make this fractal signal appear 2-3 candles late but is non removable?
Thanks


Re: MT4 Multi Time Frame (MTF) Indicators

#562
Jozo wrote:
Sat Jul 20, 2019 8:57 pm
mrtools wrote:
Thu Aug 17, 2017 9:08 am


Sanni123, added mtf and made it user friendly.
Hi Mrtools,
Could you please provide a feature that a user can choose to select to make this fractal signal appear 2-3 candles late but is non removable?
Thanks
That post is almost 2 years old could you possibly get me the link or post the indicator.

Re: MT4 Multi Time Frame (MTF) Indicators

#563
mrtools wrote:
Mon Jul 22, 2019 3:29 am
Jozo wrote:
Sat Jul 20, 2019 8:57 pm


Hi Mrtools,
Could you please provide a feature that a user can choose to select to make this fractal signal appear 2-3 candles late but is non removable?
Thanks
That post is almost 2 years old could you possibly get me the link or post the indicator.
Here is the Indicator, MrTools. Thanks for your assistance
fractals - adjustable period trend lines mtf (1).mq4
(6.88 KiB) Downloaded 401 times

Re: MT4 Multi Time Frame (MTF) Indicators

#565
hi, jimmy, i want to know about advantages of using mtf indicators and how to use it. please help me
To be consistently profitable is to pick the right strategy for what price is doing, not what we think price will do.


Re: MT4 Multi Time Frame (MTF) Indicators

#566
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.

TDI-on-chart-mtf-analysis.png

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 :thumbup:
Myfxbook live results (using Mrtools' indicators) new 2020 account coming soon.
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!


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