When you place a MA or stochastic etc..on a 60 min chart, obviously it can only show one value for one bar at a time. Even if it wiggles back and forth during the hour, at the end of the hour it can only have one position, one value.
Things are different if you are using a 5 min chart with for ex. a 60 min MTF indicator on it. There would be 12 different bars during the hour, and the 60 MTF indicator can have 12 different values. Another one for each 5 min bar.
Now that's not the same as a 5 min indicator, because the MTF takes its readings from the hourly chart.
The problem is that during that hour you see each individual bar with the right 60 MTF display, in real time... but a few hours later or if you refresh the chart, all 12 periods will show one and the same value for the MTF indicator (and that is the value at the end of the 1 hour interval, the one you got for the 12th 5 min bar).
What we want is to have the real time display for each 5 min bar "frozen", so later when we do some backtesting we can say "look, at 10:35 my MTF 60 had this value, so I would have gone long".
Without this feature, in backtesting you see all bars from 10:00 to 10:55 showing one and the same value which in fact was maybe only true since the 10:35 bar in real time. That's exactly as watching the indicator on a 1 hr chart in backtesting... so in backtest we loose the benifit of a MTF indicator completly...
So is there someone who can solve this problem ?...the way it should be solved is that the MTF60 looks to a 1Hour chart but devides the 1 hour is 12 different units and "freezez" them in time. And the value of each unit (close of that unit) should be calculated in relation to the close of the last 1hour period (again that is not the same as looking to a 5min chart were the reading of a stochastic will not be the same as that same stochastic on a 1hour chart).
We need to pinpoint the time and the value were the MTF changed its direction during that last hour.
Whatever kind of test you would do now with whatever kind of MTF indicator you will have great results because it will trow away a lott of trades that after the facts seemed to be against the trend.
This problem is also when placing the MTF indicator on 15, 30,60,240,daily,weekly and montly.
I can imagine that the problem can be solved only partialy. Because if you would place a MTF weekly on a 1min chart it has to devide this week indicator in 18.000units. So if the problem could be solved up to a 1 hour (maybe 4H) chart that would great.
tnx a lott in advance for the time and effort.
PS. I opend a new topic on this same problem because the previous topic had to much text.
This text is with the help of LazyPawn.
no, it s not reverse engineering: in my understanding, whatever an H1 MTF MA10 will show on 5 mn bars, it will be the result of calculus done on the last 10 hours ie 600mn of data. Whereas the usual MA10 on a 5mn chart will compute data of the last 10x5=50mn only.
iGoR, i ll be contacting you as soon as possible.
I hate dial up connections, but I love holidays!
Hey you lot,
I'm to lazy to think to complicated today, spend all weekend burning the grey cells, so here is a quick fix, lazy man's solution extravaganze
The chart below has a MTF Moving average(13) - the blue line on the price and it's equivalent a regular sma set to 3 times the MTF version as there are 3 five min bars in one 15min bar...as you can see, same thing, so you might not even need MTF in the first place ( I know some things might not work this great, but hey, I said I feel lazy )
Second example is a MTF CCI(50) and its equivalent just below it set to 3 X 50 = CCI(150), looks the same from here, but then again, I am burned out
Last example, MTF Centre of Gravity(9) and below it, it's regualr COG equivalent set to 3 x 9 = COG(27).
OK, time for a nap
Good point Fx_sniper, although there's still a slightly differences. So the formula is
(higher_TF/ current_TF) * chosen parameter
At least what we see is always what we get.
Your the man
You have solved many of my problem.. tq very much.. walla
Does MTF mean MetaTrader 4 (Four)? Is there a glossary of the terms and abbreviations that you all use somewhere? I remember when I first joined this forum, it took a few minutes to realize EA was Expert Advisor....
Ahh! Multiple Time Frame! I just got it....
Still, a list would help us newbies get up to speed quickly and not clutter up the forum with "simple" questions like this....
Yep ,I do see the same problem too at mtf indi ,do some expert coders can make a change of it ? Cheers
ask MTF Ind.
I need help to find Volatility Quality Index and its MTF also these inds. MTF :
RDForecastosc and Chaikinsvolatility.
thanks in advance
Hi Spike, we have a different topic here. You can ask for your MTF at https://www.mql5.com/en/forum/173574