New article MTF indicators as the technical analysis tool has been published:
Most of traders agree that the current market state analysis starts with the evaluation of higher chart timeframes. The analysis is performed downwards to lower timeframes until the one, at which deals are performed. This analysis method seems to be a mandatory part of professional approach for successful trading. In this article, we will discuss multi-timeframe indicators and their creation ways, as well as we will provide MQL5 code examples. In addition to the general evaluation of advantages and disadvantages, we will propose a new indicator approach using the MTF mode.
These indicators are presented in all standard classes, while most of
them are of the complex type, i.e. combine calculations and graphical
elements. The indicator groups are shown below:
1. Informational: such indicators displays data and additional
information without signals or graphics. A classic example is the
MultiTimeFrame indicator. It shows candlestick closing time on each
timeframe, Ask and Bid for the selected currency pairs, the candlestick
state (UP, DOWN, DOJI) and the volume. The indicator screen is filled
with a large amount of useful information, which however is hard to use
in trading and can only be viewed.
Fig. 1. Information indicators
This group also features independent tools which can be used to make
trading decisions. They display the analysis results of several standard
indicators without the need to install such indicators on a chart (the
calculation is performed automatically), as well as generate trade
Fig. 2. Signals of information indicators
Author: Alexander Lasygin
I try to test EA but it don't buy and sell , and gives error.
Not all data of Handle is calculated (-1bars ). Error4806
Not all data of ExtHandle1 is calculated (-1bars ). Error4806
Wait and watch. It will work.