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2014.09.24 09:47

MTF Inside Bar - indicator for MetaTrader 4

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votes: 20

With this indicator we can visualize price action in other (higher) timeframe without leaving our current chart.

Just choose wich timeframe you desire (ex: TFup=3 means third timeframe up from the current timeframe in the chart).

Also you can choose:

  • bars_back: how many inside bars (candles)
  • stats: if true shows the range (Open-Close, absolute value) in pips of the inside bar (candle)
  • UpCandleColor: color for a bull bar (candle)
  • DownCandleColor: color for a bear bar (candle)
  • width: thickness of the bar
  • filling: if true draws the inside bar with fill; otherwise just the edges.

Update 22.03.15 - v1.2:

  1. Added these parameters:
    • Font_Size: text font size (default=15);
    • Corner: text corner position (default=3 -> Bottom Right).
  2. Bug correction: Object Delete.
  3. Now the text has the same color as the last (upper timeframe) bar.

A tool to better visualize price action using a higher timeframe.

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