MTTW Multi Time Frame Watcher Demo
Looking at only one time frame while making trading decision is extremely wrong. As it's said, Trend is your friend. Therefore you must always move your chart looking at higher time frame in an attempt to recognize the main trend. Moreover adding multiple indicators on the chart can erode the appearance and make it hard to focus. That is why MTTW indicator was made.
This indicator will show you most commonly used indicators at all time frames and gives you average trend strength (Long term, Mid Term and Short Term) based on these indicators all on the same chart. You will not have to move between the different time frames to check specific indicator. This can helpful for traders who are looking for confluence between long term trend and short term trend for entry.
- HAMA Period: Hama indicator Period
- HAMA Method: Recommended to be Exponential
- HAMA Method: Recommended to be Linear Weighted
- MA Period: Moving Average Period
- MA1 Method: Simple, Exponential, Smoothed, etc.
- MA Applied Price: CLose, Open, etc.
- RSI Period: Rsi indicator Period
- RSI Applied Price: Close, Open, High, Low etc.
- RSI Bullish Level: Rsi Level which if crossed upward is indication of a bullish activity
- RSI Bearish Level:Rsi Level which if crossed downward is indication of a Bearish activity
- Long Term Relative Weight: this to assign a relative weight of the trend in the calculation of the trend strength. Generally assign bigger value for long term trend and smaller value for short term trend
For all Indicators Except for (MACD, MA, AWS,RSI)
- RED: Means both previous candle and current candle are bearish
- Green: Means both previous candle and current candle are Bullish
- GreenYellow: Means previous candle is Bearish and current candle are Bullish
- Pink: Means previous candle is Bullish and current candle are bearish
- Red: Means Macd Signal and Macd Main are below 0 Line and Macd Signal below MAcd MAin
- Pink: Means Macd Signal and Macd Main are below 0 Line but Macd Signal above MAcd MAin
- Green: Means Macd Signal and Macd Main are above 0 Line and Macd Signal above MAcd MAin
- GreenYellow: Means Macd Signal and Macd Main are above 0 Line but Macd Signal below MAcd MAin
- Green: MA Current is greater than Previous and the close is greater than MA
- RED: MA Current is Lower than Previous and the close is Lower than MA
- Yellow: Neutral No Clear Trend
- Green: Awesome is above 0 and current awesome is greater than previous
- Red: is the opposite of the Green
- YellowGreen: Awesome is above 0 but current awesome is Lower than previous
- Pink: Awesome is below 0 but current awesome is greater than previous
- Green: RSI value is above Bullish Level determined by user
- Red: RSI Value is below Bearish Level determined by use
- Yellow: RSI value is between Bullish Level and Bearish Level which means neutral trend
Demo Version Works Only On GBPJPY
- changed the calculation method of trend strength. now PC (Previous close) is not taken into account when calculating the trend strength.
- Changed the way how the trend is calculated so now Buy Percentage is shown separately from Sell Percentage. This gives more and the neutral component is excluded from the calculation