![]() ![]() It shows candlestick closing time on each timeframe, Ask and Bid for the selected currency pairs, the candlestick state (UP, DOWN, DOJI) and the volume. ![]() A classic example is the MultiTimeFrame indicator. Informational: such indicators displays data and additional information without signals or graphics. combine calculations and graphical elements. These indicators are presented in all standard classes, while most of them are of the complex type, i.e. Classification of multi-timeframe indicators The result can be output in the main chart window or separately, as well as be displayed as a signal while combining groups based on the instrument type. No special setup is needed for MTF versions as compared to classical ones, except for the additional parameter (or group of parameters) to specify time intervals or list of symbols to use data from. They are calculated according to their basic algorithm and pass information in accordance with the time interval specified in the settings. Any indicator type (oscillator, trend, volume, etc.) or a combination of them can operate on multiple timeframes. The main difference from the classical indicators is that MTF indicators can process generalized information from all time intervals or financial instruments and then pass data to the current chart. In addition to basic information, these indicators can display the real state of the market trend and recommend further trading activities. The solution to this problem is an indicator which receives information from different timeframes or multiple trading symbols and displays the comprehensive data on the screen, so that the user can efficiently assess the market state. In these situations, the user can only rely on their experience or information accessing speed. ![]() This may lead to messy decisions, early closing of positions or missing of market reversal points. When performing trades on lower TFs, one can miss profitable signals on higher periods. Thus traders using these strategies are often in the state of mental strain. This is especially important for MTF strategies based on the simultaneous evaluation of different TFs, such as the Wolfe Waves or the Elder's Three Screens. Moreover, the data should be available right here and now, not on another tab or anywhere else. While this information can sometimes be vital. However, there is no time for checking required information form higher periods when working on the M1-M15 timeframes. What to do next? Does one have to ignore older timeframes or keep switching between windows and periods? When the working timeframe is Н1 or above, the user has time for careful evaluation of the general situation. Thus the preliminary analysis is performed. To perform multi-timeframe analysis, users often have to open several windows or switch between chart periods if the same set of instruments is used. This analysis method seems to be a mandatory part of professional approach for successful trading. The analysis is performed downwards to lower timeframes until the one, at which deals are performed. Most of traders agree that the current market state analysis starts with the evaluation of higher chart timeframes. ![]()
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