MTF Countdown with Direction - Aynet

3 days ago

Indicator Definition and Inputs:

pineCopyindicator('MTF Countdown with Direction - Aynet', overlay = true)

This code creates a Multiple Time Frame (MTF) countdown indicator with direction
The overlay = true parameter places the indicator on top of the price chart


Timeframe Options:


Users can choose to show/hide the following timeframes:

1 minute
5 minutes
15 minutes
30 minutes
1 hour
4 hours
Daily




Time Calculations:

pineCopyget_current_time()

Calculates the current time
Converts Unix timestamp to seconds
Calculates time since midnight
Returns time broken down into hours, minutes, and seconds


Countdown Calculation:

pineCopyget_period_countdown(period_seconds)

Calculates remaining time for each timeframe
Computes elapsed time in current period
Returns remaining time in hours, minutes, and seconds


Direction and Closing Price Calculation:


Separate functions for each timeframe (get_direction_and_close_1m(), get_direction_and_close_5m(), etc.)
Each function:

Gets current closing price
Compares with previous closing price
Determines direction (up: 1, down: -1, sideways: 0)
Returns direction and closing price




Table Creation and Updates:


Creates a table in the top right corner
Table consists of 4 columns:

Period (Timeframe)
Time Left (Remaining time)
Direction (Shown with arrows)
Close (Closing price)


Each row has a different background color
Direction arrows:

Green up arrow (▲): Price rising
Red down arrow (▼): Price falling
Gray line (―): Price sideways




Dynamic Data Structures:

pineCopyvar timeframes = array.new_int()
var timeframe_names = array.new_string()
var show_array = array.new_bool()

Uses dynamic arrays for timeframes
Adds selected timeframes to arrays on first run

Key Features:

Shows remaining time until period close
Displays price direction for each timeframe
Shows current closing prices
All information in a single, easy-to-read table

This indicator helps traders by providing a comprehensive view of:

When each timeframe will close
The direction of price movement
Current closing prices

across multiple timeframes in a single table, making it easier to track market movements across different time periods.
The color-coding and arrow system makes it visually intuitive to understand market direction at a glance, while the countdown timer helps with timing decisions.