Ultimate Signal Generator MTF

Multi-Timeframe EMA Momentum Filter — Version 1.0

This indicator is designed to help traders evaluate short-term EMA crossovers in the context of higher timeframe momentum. Its purpose is to reduce noise and highlight setups that align with the broader market trend.

How it works:

• On the main chart, arrows appear when a fast EMA crosses a slow EMA on the current timeframe, provided that higher timeframe momentum confirms the direction.

• In the subwindow, a histogram displays the difference between the higher timeframe EMAs. Green bars indicate strengthening upward momentum, while red bars indicate weakening or downward momentum.

• Signals are generated only on closed bars of the active timeframe, ensuring alerts are based on confirmed data.

Signal logic:

• Buy: Fast EMA crosses above the slow EMA, and higher timeframe momentum supports upward movement.

• Sell: Fast EMA crosses below the slow EMA, and higher timeframe momentum supports downward movement.

Inputs and options:

• Choice of higher timeframe and price type.

• Adjustable EMA periods for both higher and lower timeframes.

• Filter modes: simple (one-bar check), strict (three-bar momentum confirmation), or momentum-only.

• Options to show/hide arrows, plot EMA lines, and enable alerts.

Notes:

• Higher timeframe data continues updating until its bar closes, so histogram values may change during bar formation.

• All alerts are based on closed bars of the active timeframe.

• This indicator is a technical analysis tool. It does not predict or guarantee results.