MTF Candlestick Color

Multi-Timeframe Candlestick color indicator, plots the color of the bar in 10 different timeframes.
It consists of 3 bands with respect to the time frames selected: Short Term, Medium Term and Long term bands.
Short Term - 5, 10, 15, 30 min
Medium Term - 60, 120, 240 min
Long Term - D, W, M
If the bar color synchronizes in their respective bands, the indicator plots a cross with the color below their bands.
If ALL the bands are synchronized, the indicator plots the signal circle below the indicator with color.

//The topmost line in the indicator shows the color of the bar in the current timeframe, helps when you switch to HeikinAshi Chart//
//The indicator plots the lines in the order of the input//

Works in all timeframes and is excellent for scalping.
Use your custom timeframes and have fun trading...

Good Luck Trend Traders....
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sir how to get the macd overlay pls explain as its shown in ur chart+

n.bhaskar1993 Kumaran1964
@Kumaran1964, MACD Overlay indicator is something that i came up with. Lot of people asked me the same question, so I will be posting the indicator on TV soon. Its uses the same formula as MACD but when ploted on chart, it filters out all the bad trades on MACD. When you look at MACD Overlay you will understand why trading the MACD alone would empty your trading account.
Kumaran1964 n.bhaskar1993

thk u sir waiting
Kumaran1964 Kumaran1964

how to Change the settings to '1' and field to 'open as mentioned above to avoid repainting
n.bhaskar1993 Kumaran1964
@Kumaran1964, Plot "MTF Multiple SMA indicator" , you can change the settings there. This wont stop the repainting as the colors are permanent on the close of the bar, but it takes a month for monthly candle to close. As long as the price trades above these open levels when you get a signal, we can expect a good trade.
Hello Bhaskar! Good Work!
I have a couple of questions , Hope you can help?
1. Does the Signal repaint? For Example Today is Friday and the market has closed down.
On Monday the market opens gap up 500 Points.
Will all the red dots that were shown on Friday Disappear?

2. What is the best way to avoid repainting if any?

n.bhaskar1993 dheerajsood
@dheerajsood, The signal do repaint, if the bar color changes prior to the close of the bar. Meaning if the price starts to trade below the "open" of the bar. I faced the same problem of repainting, so I came up with a good solution. Plot the indicator MTF Multiple SMA indicator. Change the settings to '1' and field to 'open'. Now the indicator plots the open price levels of different timeframes. If price trades above the open, meaning above all the plotted lines, you get a signal. Your trade is good ass long as the price stays above all these lines. I will post you an example.
dheerajsood PRO n.bhaskar1993
@n.bhaskar1993, Yes! you got my question correct! Ok Great , Will Wait for you to post! and Thanks!
n.bhaskar1993 dheerajsood
n.bhaskar1993 dheerajsood
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