n.bhaskar1993

MTF Candlestick Color

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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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Comments

The idea behind creating this indicator is that Investors and traders use different time-frames for making their trading decisions. Powerful moves happen when both investors and traders agree upon the direction of the market. This indicator spots such moments when the price is moving up/down in all the charts. No matter which chart you open in these moments, the price will be moving in only one direction. No matter what kind of trader/investor looks at the charts, you will find the price moving in only one direction. This increases the probability of success of the trade by many fold. This is a very simple yet powerful idea to confirm your trades.

Have fun Trading :)
+1 Reply
cristian.d n.bhaskar1993
@n.bhaskar1993, Thank you sir, quickly playing with it, I believe this is one of the best confirming indicators out here, very visual and simple, especially since has as basis the actual candle. To declutter it, I kept just the short/medium and long term signals, not all the bands. Great stuff again!
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n.bhaskar1993 cristian.d
@cristian.d, The below chart uses MTF Analysis of Candle, RSI and 200 SMA
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n.bhaskar1993 cristian.d
@cristian.d, Combining MTF indicators to create a powerful signal
this is live analysis of USDJPY

+1 Reply
cristian.d n.bhaskar1993
@n.bhaskar1993, I am following the squeeze patterns with PPO and ADX
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cristian.d n.bhaskar1993
@n.bhaskar1993, yes like that for the first buy signal; for the second, I would take the bullish cross only if the adx line is above 20, otherwise the price could be choppy...I can't post right now shotscreens, at my regular job :) Anyway, now your indicator is always on my templates, good stuff
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n.bhaskar1993 cristian.d
@cristian.d,
Yes but it is also important that the DMI cross occurs above the 20, also the ADX line is a bit lagging which is why I stopped using it, but anything that makes you money is a good strategy.
Have Fun trading...
+1 Reply
The simplest way to trade it is as follows:
+1 Reply
Hello,

I was looking at the ticker; AG (1m chart) on my laptop the indicator gave me a full green entry signal. Several candles later an exit signal was triggered where I exited my trade and the order resulted in a loss.

I wanted to review my order on my iPad and noticed that the signal on the iPad did not match that on my laptop (same timeframe and same indicator settings and at the same time) was NOT a full green entry signal. I have my iPad right next to the laptop and checked over and over again but both signals are not matching. How is that possible when Im looking at the same timeframe, trading time and same indicator settings?

Any feedback would be highly appreciated.
Reply
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