- Moving Average – multiple timeframes
- The indicator used is the moving average
The main problem with a conventional multi-time frame indicator is the need to REDRAW it if a trader decides to use such an indicator in their trading strategy.
Most likely, you already know how the multi-time frame indicator is redrawn. However, I will still explain with the following example:
Let’s assume that you are using a regular multi-time frame moving average (H4) on the chart (H1). At 15:20, the moving average (H4) on the EURUSD fell from 1.30590 to 1.30550. What happens on the H1 chart?.. The moving average for the 13:00, 14:00 and 15:00 candlesticks will decrease from 1.30590 to 1.30550. Similarly, with the M15 chart and the H4 timeframe, the moving average for the last 14 candles will decrease from 1.30590 to 1.30550.
Our solution is a non-redrawing MTF MA indicator. We cannot reveal the idea of the indicator, but we guarantee that there will be no redrawing on closed bars. In the proposed indicator, the use of multiple timeframes will affect only the value of the moving average of the current bar.
Supported timeframes: M1, M5, M15, M30, H1, H4, and D1.
- DesiredTF-an empty value is set for the current timeframe.
- DesiredTFHelp-consider capital letters. h1 is not suitable for the H1 timeframe. You can also not use a timeframe smaller than the current one. For example, you can’t use M5 on the M15 chart.
- MAPeriod – the period of the moving average (default = 13).
- MAMethod-moving average method (default = Exponential Moving Average).
- applicedprice – the price used (default = Closing Price).
- MAShift – the value of the moving average shift (default = 0).
- AlertsOn-if true, the indicator activates alerts when the timeframe changes.
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In the screenshots:
- Blue line = exponential moving average (EMA) of the current timeframe with default settings
- Yellow-green line = EMA for M30 with default settings
- Yellow = EMA for H1 with default settings
- Red = EMA for H4 with default settings
- Black color = EMA for D1 with default settings
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