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MTF MovingAverages

The indicator is able to display 3 moving averages from the available timeframes on the main chart.

For precise entries, it is convenient to observe the price approaching the Moving Average on the higher timeframes H1-H4-D1-W1-MN from the smaller timeframes M1-M5-M15.

By adding a Moving Average from the other timeframes, it is possible to see the overall "picture" of where the price is located relative to the Moving Averages of different timeframes at the current moment, which allows to better evaluate the situation before making a decision.

In order not to clutter up the chart with lines, the indicator has an option to draw the Moving Averages by bars.

The indicator parameters

  • TIME_PERIOD - The Moving Average timeframe.
  • PERIOD - The averaging period for the indicator calculation.
  • SHIFT - Shift of the indicator relative to the price chart.
  • METHOD - The averaging method of the indicator.
  • FIRST - The applied price for the first Moving Average.
  • SECOND - The applied price for the second Moving Average.
  • THIRD - The applied price for the third Moving Average.

Visual parameters of the indicator

  • WIDTH - Line width.
  • STYLE - Line style.
  • COLOR - Line color.
  • BARS_DRAWING - The number of bars for plotting the Moving Average lines.
Berk Turker
Berk Turker 2017.02.11 21:21 

Good Job