Advanced MTF MA
- Moving Average - multiple timeframes
- Indicator used - Moving Average
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.
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.
- DesiredTF - empty value means current timeframe.
- DesiredTFHelp - please consider capital letters. For H1 timeframe, h1 will not be accepted. Also you cannot enter the timeframe smaller than the current one. For example, you cannot enter M5 on M15 chart.
- MAPeriod - Moving Average period (default = 13).
- MAMethod - Moving Average method (default = Exponential Moving Average).
- AppliedPrice - MA Applied Price (default = Closing Price).
- MAShift - Moving Average shift value (default = 0).
- AlertsOn - if true, then the indicator gives alerts when its timeframe is changed.
In the attached screenshots:
- Blue color = current timeframe EMA with the default settings
- Lime color = M30 timeframe EMA with the default settings
- Yellow color = H1 timeframe EMA with the default settings
- Red color = H4 timeframe EMA with the default settings
- Black color = D1 timeframe EMA with the default settings
2. Levels can be controlled with following input variables provided:
bool ShowLevels=false ----- If true then indicator will put upper and lower levels
int UpperLevelPointsDistance=150 --- Upper level points difference from original MA
int LowerLevelPointsDistance=150 --- Lower level points difference from original MA
MA-Shift bug removed