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Multimeter

Dear Traders,

Multimeter indicator measures three critical parameters of trading. All these 3 parameters together help traders have holistic view of market being traded. You do not need to visit multiple timeframes to check price action there.

It works across different markets viz. Forex, Stocks, Futures, and commodities.


Brief on 3 parameters being shown.

1) Current Bar

It shows current candle across timeframes. It is advisable to trade in direction of higher timeframes.

e.g. If Daily and Weekly candles are Up, odds are more favorable for intraday buyers.


2) Momentum

It shows how good is short term momentum for respective timeframes. If momentum is High on higher timeframe then it is wiser to trade trend on lower timeframes. If momentum is Low on higher timeframe, price may not trend much, thus look for Mean Reversion trading opportunities.

Note: Even though name matches, still this parameter does not include Momentum oscillator that comes with MetaTrader4.


3) Trend

It shows Trend across timeframes. Trend on higher timeframes does not change easily, hence trend followers may look to use that information for Pullback entries. Also, Trend change always occurs on Lower timeframes first. Reversal traders can use this information for their trades


For details on, how to read parameters please go through screenshots attached. If you need any additional information about indicator or have any queries, feel free to contact me.

Thank You, for your interest and efforts to go through this commentary.


All The Best!


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Rollo Palma
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Rollo Palma 2020.02.03 23:16   

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バージョン 1.1 2020.02.28
This is new version of Multimeter. Previous was trial version free to use for a month.