Discussion of article "MTF indicators as the technical analysis tool"

To add comments, please log in or register
MetaQuotes Software Corp.
Moderator
206563
MetaQuotes Software Corp.  

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.

Classification of multi-timeframe indicators

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 recommendations.


Fig. 2. Signals of information indicators

Author: Alexander Lasygin

CrazyTrend
111
CrazyTrend  

 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

  Not all data of Handle is calculated (-1bars ). Error4806

To add comments, please log in or register