Twin Range Filter MTF
- Indicators
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Evgenii Sutulov
Premium components
1. https://www.mql5.com/en/market/product/201632 - Rotation Manager Console - Version: 1.3
Two range estimates instead of one, so the filter is not fooled by a single burst of volatility. Twin Range Filter MTF averages a fast and a slow smoothed range, steps its line only when price clears that combined distance, and latches each turn so you get one signal per reversal rather than a stream of them. Any higher timeframe on any chart, closed senior bars only. It is free: no trial, no locked features, no upgrade page.
Two smoothed ranges are built from the size of the bar to bar move, one over a fast window and one over a slow one, each smoothed again and scaled by its own multiplier. Their average is the distance the filter line requires before it steps.
The line moves only when price clears that distance, and otherwise it holds where it is. A signal is a change of side while the direction counter is positive, and a latch allows one signal per reversal rather than a new one on every bar that stays on the same side.
What is on the chart
Drawn in the price window: the filter line coloured by its side and unbroken across the turn, the range band as two thin lines around it, two shades between them, and BUY and SELL arrows on the turning bar.
The panel
A canvas panel on the price chart, draggable, collapsible, closeable. It shows the timeframe in force and the setting values actually being used. It says what the last closed bar was: a BUY signal, a SELL signal, or neither. And it says whether the numbers on screen came from the properties dialog or from the panel, and how many of them were changed by hand.
Below that sit the settings the panel can move, with their current values. The gear opens a three-tab sheet.
Values covers the timeframe, the fast range period of twenty seven and its multiplier of 1.6, and the slow range period of fifty five and its multiplier of 2.0. Styles covers the palette, the filter line and its width, the arrow size, the range band and the two shades. Every Values row has steppers, a range and a sentence of help.
The Alerts tab covers the master switch, the per event switches, the channels, the cooldown in minutes and a test alert.
Three colour schemes: dark, light, and a colour-blind safe one that uses blue and orange rather than red and green. Everything about the panel, including every value changed on the sheet, is stored per chart and survives a timeframe change and a terminal restart. The interface is English.
Alerts
Off out of the box. Three events: a BUY signal, a SELL signal, and a touch of the filter line, which is the pull back event rather than a flip. Each has a switch of its own.
Channels: a popup window, a sound, a push to the mobile terminal and e-mail. There are per-event and per-channel switches, and a cooldown that defaults to two hours.
Alerts fire on the last closed bar. Two further alerts, off by default, speak on the forming bar within a chosen number of seconds of its close, and they are labelled early because a flip that exists mid-bar can un-happen. Telegram is not part of this product.
Signals on the forming bar
There is one switch that matters more than the others, and it is in the Values tab as well as in the inputs: whether buffers and arrows are allowed on the bar that is still forming.
With it on, which is the shipped default, you see a flip as soon as the market makes it. Sometimes that flip is undone before the bar closes and the arrow disappears. With it off, nothing is written on the forming bar at all: there is no repaint of any kind, and every signal arrives one bar late by construction.
Both behaviours are legitimate. The product does not pick for you and it does not hide which one it is doing: the panel and the setting name both say so.
Multi-timeframe
The Timeframe setting computes on a higher timeframe and draws the result here. Only closed senior bars are read: a chart bar shows the newest senior bar that had already closed by that chart bar's own close, so the flip lands on the bar that closes together with the senior bar, and nothing is drawn that could not have been known in real time.
The foreign series is built in the background. The first read of it can come back empty, the indicator retries, and the panel says whether it is waiting for a download or looking at a genuine shortage of history. It never fails initialisation over missing bars.
Reading it from an EA
Sixteen buffers, all readable through iCustom and CopyBuffer. Buffer 0, Buy, carries the arrow price on a BUY bar and EMPTY_VALUE otherwise, and is not drawn; buffer 1, Sell, is the same for a SELL. Buffers 2 to 5 belong to the two fills and are display plumbing, not for reading. Buffer 6 is the filter line while the trend is up and buffer 7 is the same line while it is down; on the turning bar both hold a value, which is what keeps the drawn line unbroken. Buffer 8 is the upper edge of the range band and buffer 9 is its lower edge. Buffers 10 and 11 are the drawn copies of buffers 0 and 1. Buffer 12, Signal, is +1 on a BUY bar, -1 on a SELL bar and 0 otherwise. Buffer 13 is Override, buffer 14 is the filter line as one unbroken series, and buffer 15 is the trend itself, 0 while up and 1 while down.
Buffers 0 and 1 are the contract: never painted, filled on every pass whatever the Styles tab says, and present in the Data Window. Hiding the arrows on the display cannot starve a strategy of the signal, because hiding is done by changing how a plot is drawn and never by emptying a buffer.
An instance created by iCustom is read only and always uses the parameters you passed. The Override buffer lets a strategy detect that a chart instance is running on numbers changed by hand from the panel.
Provenance
This is a port of "Twin Range Filter" by colinmck, an openly published TradingView script, which makes a port by formula admissible. The implementation is a reconstruction from the formulas. No deviation is declared here: the exponential averages are seeded with the first value of the series, which is what Pine's own average does from its first defined value.
The product is called Twin Range Filter MTF because that is the name of the method, not because authorship of the method is claimed here. The original work belongs to its author.
Honest limits
A stepped line turns late by design. In a range it will turn repeatedly, and each turn is a real turn of the line and a poor trade.
The latch gives one signal per reversal. That is deliberate, and it also means a strong continuation after a turn produces no new signal at all.
Four settings, two periods and two multipliers, move every arrow this product will ever draw. Two configurations produce two different sets of signals and neither is the correct one.
No profit figure, win rate or backtest result is claimed here.
