MTP STF

The MTP STF script gives an easy to understand guide to the direction of the larger degree trend. Blue for up, Grey for neutral and Red for down. The colours are plotted on a 5/34 oscillator. The script is calculated using the position of a combination of moving averages on the current Chart. It is the colour of the indicator that is important, not its level above or below the 0 line.

The script also contains the MTP strength bands (these are the grey lines on the indicator), which are used for deciding whether to run your position using an trailing stop. When the Market is “strong” ( MTP STF indicator is beyond the grey strength band) as the market reaches its projected Profit target, then the trader should consider swapping to a trailing stop to look to run their position further.

There is a risk in Trading and Investing. Losses can and will unfold.

The script is available as an “invite-only” script, as part of the MTPredictor suite of tools on Trading View.

To obtain access, please go to the web page in our signature that appears below.

Release Notes:

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Release Notes:

Updated Code