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MTF Indicators
I don't think that the Indicator repaints the past, but like most MTF indicators it is only accurate in the current bar.
Behind the current bar you are viewing data from different timeframes.
If your MTF indicator is set to view 5 min, 1 hr, 4 hr and daily.... then 2 bars back you are looking at data from 10 min (on the 5 min TF), 2 hours (on the 1 hour TF) 8 hours (on the 4 hour TF) and 2 days on the daily chart.
Just use the current bar for your signal.
So that means this syetm is a dud, or worse misleading?
No. The MTF indicators do repaint, but since you have to wait an entire day to get a signal it doesn't matter because it doesn't repaint the close price. You'll just notice that the line will just wiggle back and forth through out the day, but since you take the signal at the close of the day, you just ignore it.
All #MTF indicators will redraw the past if you have it set for a higher time frame then the chart you are currently looking at. For example If you are on a 1hr time frame and add a 1440 time frame indicator (CCI) on the 1hr - it will repaint the past. This happens because if there is a big move in the market toward the end of the day, causing the daily chart indicator (CCI) to move up. Once that daily indictor moves up at what ever time it moves, it will reset the entire day starting from the begining of the day showing the up movement on the CCI. So it will appear on the 1 hour chart that move happen at the very beginning of the day, when it really didn't move up till toward the end of the day. I hope I am making sense, its hard to explain.
I understand... but i think there is a good point from #MTF indi... let us find it
Result
Dear All
This is my report trading at 1st day at 28th july 2006. I put Target at 30 pips..
and i close all open position 30 minutes before GDP NEWS..
My Broker is Real Trade... it's GMT+2..
Report 2nd Day
This is my second Day... I let GBPUSD floating because CCI Daily today was lower than yesterday (i live in jakarta... GMT+7). and I cut Eurousd because CCI was change.. and i reverse to sell
Dear All
This is my report trading at 1st day at 28th july 2006. I put Target at 30 pips..
and i close all open position 30 minutes before GDP NEWS..
My Broker is Real Trade... it's GMT+2..Do you put any stop loss be it real or mental?
i don't put stop lost... only if cci change direction to be lower or higher then i cut lost, and reverse position
i don't put stop lost... only if cci change direction to be lower or higher then i cut lost, and reverse position
Thank you. Will putting TP of 30 then not limit your profit?
How do you arrive at the TP of 30?
I am new here.. how to set this cci at meta4?
I am new here.. how to set this cci at meta4?
copy and paste #mtf-CCi indikator in your expert\indicators folder...
then run MT4.. and then insert indicator.. chose costum indicators... find #MTF-CCI, set time parameter to 1440... that's it!