The Multiple Higher Time Frame Indicator Tool is a comprehensive TradingView script designed for traders who rely on multi-time frame analysis. It overlays key higher time frame (HTF) levels and data directly onto charts, offering clear insights into market structure and dynamics. This tool is especially useful for traders focusing on weekly, daily, and intraday strategies.
Key Features:
Multi-Time Frame Analysis: Displays critical levels like open, high, low, and close from multiple higher time frames. Tracks and visualizes weekly candle structures, including expiry-related data.
Visual Overlays: Plots lines for Open Range Breakout (ORB) levels, HTF highs and lows, and other essential data. Dynamically updates to reflect changes in market conditions.
Customizable Settings: User-configurable inputs for selecting higher time frames, display options, and calculation preferences. Adjustable visualization for intraday and session-based levels.
Profitability Tracking: Includes features to calculate and display profit and loss (PnL) using tailored tables. Tracks session performance and supports decision-making with profitability data.
Holiday and Expiry Handling: Automatically adjusts expiry data for holidays and market closures. Includes logic for fallback scenarios like Friday or Monday holidays.
Efficient Data Management: Utilizes advanced Pine Script structures such as arrays and tables for streamlined processing. Ensures accurate data representation with optimized performance.
Error Prevention: Built-in checks prevent errors when incompatible time frames are selected.
Use Cases: Day Traders: Gain a better understanding of intraday trends using HTF reference levels. Swing Traders: Identify key weekly and daily levels to plan entries and exits. Options Traders: Use expiry candle data and ORB levels for precise trading strategies. This tool is essential for traders who need a reliable, visually intuitive way to incorporate higher time frame insights into their technical analysis.