Dear Mladen and Mr.tools,
There was a paper clip for every thread in this forum..where is it now?i don't see it anymore
Mahnooj, added mtf.
Is it possible for you to make it show lower timeframes? For example, I want to display 60M and 15M TDI on 4H chart. In addition, it would be great if it automatically shifts TF up to two lower TFs. My scenario is when I open 4H chart, it shows 4H, 60M and 15M TDIs, then I change it to Daily chart, it automatically shows Daily, 4H and 60M TDI..... Of course the scale should match the current TF accordingly. I find watching lower TF MTF is much more useful than watching higer TF MTF, which is repainting until the higher TF bar closes.
That is not possible to do (you have to throw out some lower time frame data, and there is no way to decide which data to use. For example : on a 4h time frame you would have to eliminate 15 out of 16 bars belonging to 15 minute chart. Which one would you use, and why that ne and not one of the remaining 15?). All in all, lower time frame display on a higher time frame chart can not be done without big loss of data
Thank you very much sir. It makes sense to me.
There's a version of MTF TDI which I found at ForexFactory. It supports lower TF already (not automatic though). Could you please have a look at this code to see if it also loses data as you explained? I thought it would be useful (and indeed made some good forward test result), but I may be wrong if it loses any data....
Every lower time frame display on a higher time frame chart loses data. There is no way to avoid that (regardless of the code used - for example : there is simply no way to display sixteen 15 minute bars values in one 4 hour bar - that is not possible)
That indicator will, in the case of 15 minute display on a 4 hour chart, display a 15 minute value of the start of the 4 hour period and then ignore next 15 values, and so on and on. People often forget that higher time frame has less data than lower time frame (lower data time resolution) and that you can not see lower time without a loss
Thank you sir. Now understand your point! My idea looked good at first but it turned out to be an illogical myth... You're the myth burster!
thanx a ton mrtools....
Those lines look arbitrary there
Could someone please make this indicator MTF, thank you inadvanced