Very very useful !!!!!!
5 star.
Traditional multiple timeframe indicator always has an issue of REPAINTING when a trader wants to establish his/her strategy using Multi-Time-Frame (MTF).
Generally, you should know how the MTF indicator re-paints. But I will explain with the following example:
Suppose that you are using traditional MTF Moving Average (H4) in (H1) chart. At 15:20, the Moving Average (H4) dropped from 1.30590 to 1.30550 in EURUSD. Now what happens on H1 chart?.. The Moving Average for the candles 13:00, 14:00 and 15:00 will drop from 1.30590 to 1.30550. Similarly if the current chart is M15 and desired timeframe is H4, the Moving Average for the last 14 candles will drop from 1.30590 to 1.30550.
Here, we
present a solution by introducing a non-repainting MTF MA indicator.
We cannot explain the idea but we can guarantee no repaints on closed
bars. In this indicator, the Multi Time Frame will only affect current bar's moving average value.
Supported timeframes: M1, M5, M15, M30, H1, H4 and D1.
In the attached screenshots:
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great indicator