MTF Evolving Weighted Composite Value Area🧾 Description:
This indicator calculates evolving value areas across 3 different timeframes/periods and combines them into one composite, multi-timeframe evolving value area - with each of the underlying timeframes' VAs assigned their own weighting/importance in the final calculation. Layered with extra smoothing options, this creates an informative and useful 'rolling value area' effect that can give you a better perspective on the value area across multiple periods at once as it develops - without total calculation resets at the onset of every new period.
Let's start with a simplified primer on value areas and then jump in to the new ideas this indicator introduces.
🤔 What is a value area?
Value areas are a tool used in market profile analysis to determine the range of prices that represents where most trading activity occurred during a specific time period, typically within a single 'bar' of a certain higher timeframe, such as the 4-hour, daily, or weekly. It helps traders understand the levels where the market finds value.
To calculate the value area, we look at the distribution of prices and trading volume. We determine a percentage, usually 70% or 80%, that represents the significant portion of trading volume. Then, we identify the price range that contains this percentage of trading volume, which becomes the value area.
Value areas are useful because they provide insights into market dynamics and potential support and resistance levels. They show where traders have been most active and where they find value, and traders can use this information to make better-informed decisions.
For example, if price is trading within the value area, it suggests that it's within a range where traders see value and are actively participating, which could indicate a balanced market. If the price moves above or below the value area, it may signal a potential shift in market sentiment or a breakout/breakdown from the established range.
By understanding the value area, traders can identify potential areas of supply and demand, determine levels of interest for buyers and sellers, and make decisions based on the market's perception of value.
📑 Limitations of traditional value areas
Static representation: Value areas are usually represented as static zones calculated after the fact. For example, after a daily period is completed, a typical 1D VA indicator will display the value area for the past period with static horizontal lines. This approach doesn't give you the power to see how the value area evolved, or developed, during the time period, as it is only displayed retroactively. It also doesn't give you the ability to view it as it evolves in real-time. This is why we chose to use an evolving value area representation, specifically borrowed from @sourcey's Value Area POC/VAH/VAL script function for calculating evolving VAs.
Rollover resets - no memory of past periods!: The traditional value area is calculated over a static period - it is calculated from the beginning of the period, for example a 1 day period, to the end, and that's the end of it. When the next daily period begins, the calculation resets, and has no memory of the preceding period. This limits the usefulness of the value area visual when viewed near the beginning of a new period before price and volume have been given ample time to define an area.
Hard to absorb all of that information: Value areas aren't generally meant to be a hardline representation of something extremely exact - they're based on a percentage of the area where traders appeared to find value over a certain time period. Most traders use them as a guide for support and resistance levels or finding an expected range. Traders typically overlay multiple VAs - sometimes requiring several instances of the same indicator to be applied - to represent the VA across multiple timeframes such as the 4H, 1D, or 1W. The chart quickly gets cluttered and it's not necessarily easy to understand the relationship between these multiple periods' VAs at a glance.
🧪 New concepts introduced in this indicator
With the evolving weighted composite value area we tried to address these limitations, and we think the result can be useful and intuitive for traders who want more dynamic and practical VAs for their everyday technical analysis.
⚖️ 1. A composite, weighted multi-timeframe VA
This indicator's value areas represent a combination or composite of the value areas calculated across multiple timeframes. The VAs calculated across each timeframe are then given a weighting percentage, which determines their contribution to the final 'weighted composite value area'.
Pictured below: a 4H/1D/1W MTF evolving weighted composite VA on the BTCUSDT Perpetual Futures (Binance) 5 minute chart:
Traditionally, when traders wanted to get a view of where the majority of trading activity occurred over the past four hours, day, and week, they would need to apply three value area indicators (or sometimes one if it allows multiple custom timeframes), each set to a different period (4H, 1D, 1W). The chart gets cluttered quickly and the information is hard to absorb in one shot. Addressing this problem was the main impetus for creating this weighted composite process.
〰️ 2. Rolling and smoothed evolving VAs
Because the composite VA is calculated based on multiple period VAs, there is no one single point where the area calculation resets (unless all 3 selected timeframes happen to rollover on the same bar). This creates a 'rolling' effect that gives a sense of the progression of the VA as price transitions through the different underlying time periods, without the traditional 'jump' in calculations between periods.
Pictured below: a 1D/1W/1M MTF evolving weighted composite VA on the NQ futures 1H chart:
To help give even more of a sense of perspective and 'progression' of the VA, there are also smoothing options to even out the 'jumps' at period-rollover points.
✔️ What's it good for?
Smoothed, rolling, and evolving multi-timeframe VAs that give you a better real-time perspective of where traders are finding value across multiple time periods at once.
📎 References
1. @sourcey's Value Area POC/VAH/VAL script by adapting its f_poc(tf) function.
💠 Features:
A MTF evolving weighted composite value area based on 3 underlying VAs calculated across customizable timeframes
Aesthetic and flexible coloring and color theme styling options
Period-roller labels and options for ease-of-use and legibility
⚙️ Settings:
Calculation Decimal Resolution: This setting essentially determines how 'granular' the value area calculating process is. This value should be set to some multiple of the tick size/smallest decimal of the symbol's price chart. Eg. On BTCUSDT, the tick size/decimal is usually 0.1. So, you might use 0.5. On TSLA, the tick size is 0.01. You might use 0.05 or 0.25. Beware: if the resolution is too small, calculation will take too long and the script may timeout.
Show Me Suggested Resolutions: If enabled, a label will display in the bottom right of the chart with some suggested resolutions for the current chart.
Area Percentage: Set the displayed percentage of the calculated composite value area. Igor method = 70%; Daniel method: 68%.
Use a Color Theme: When this setting is enabled, all manual 'Bullish and Bearish Colors' are overridden. All plots will use the colors from your selected Color Theme - excepting those plots set to use the 'Single Color' coloring method.
Color Theme: When 'Use a Color Theme' is enabled, this setting allows you to select the color theme you wish to use.
Resistance Color: When 'Use a Color Theme' is disabled, this will set the 'resistance color' for the composite VA.
Support Color: When 'Use a Color Theme' is disabled, this will set the 'support color' for the composite VA.
Show Period Rollover Labels: When enabled, a label will show above or below the composite VA marking any underlying period rollovers with the label 'New __' (eg. 'New 4H', 'New 1D', 'New 1W').
Size: Sets the font size of the period rollover labels.
Show Period Rollover Lines: When enabled, a translucent vertical dashed line will be drawn across the composite VA when one of the underlying periods rolls over.
Fill Composite Value Area: When enabled, the composite VA will be filled with a gradient coloring from the support line to the resistance line using their respective colors.
Smooth: When enabled, a smoothing moving average will be applied to the composite value area.
Smoothing Period: Set the lookback period for the smoothing average.
Smoothing Type: Set the calculation type for the smoothing average. Options include: Exponential, Simple, Weighted, Volume-Weighted, and Hull.
Enable: Include/exclude a timeframe's VA in the composite VA calculation.
Timeframe: Set the timeframe for this specific underlying VA.
Weighting %: Set the weighting percentage or 'importance' of this timeframe's value area in calculating the composite VA. Beware! The sum of the weighting percentages across all enabled timeframes must ALWAYS add up to 100 in order for this indicator to work as designed.
在腳本中搜尋"mtf"
MTFindicatorsQuite recently TradingView added the possibility to create and use Libraries in PineScript. With this feature PineScript became higher quality of coding language overnight. Libraries enable splitting your code into multiple files, providing easier access to code reusability.
I was working on a script which included 3000 lines of code, which was recompiling 1:30 min, and recalculating over 1 minute as well. So I split it into 2 parts: main part + library containing "main logic", which I reuse in variety of scripts, but don't change too often. Result? Now recompilation of my main script takes 10 and recalculation 8 seconds!!!. I instantly fell in love with libraries.
Having said that, and being dedicated hater of security() calls, I have decided to publish a library of MTF indicators created with my own approach: "dig into formula". I have explained reasons for such approach in desription to this script:
So this library script will be a set of indicators reaching to higher timeframes. Just include one line at the beginning of the script you are creating:
import Peter_O/MTFindicators/1 as LIB
and then somewhere is the code add this line:
rsimtf=LIB.rsi_mtf(close,5,14)
All of a sudden you have access to rsimtf from 5x higher timeframe without any hassle :)
I start with RSI MTF, next ones will be ADX, Stochastic and some more. I will update this library with them here as well. Feel free to request particular indicators in comments. Maybe PSAR? Maybe Bollinger Bands?
TimeframeToMinutesLibrary "TimeframeToMinutes"
The timeframeToMinutes() function returns the number of minutes in an arbitrary timeframe string.
timeframeToMinutes()
Returns the number of minutes in the supplied timeframe string, which is arbitrary, i.e. it doesn't have to be the timeframe of the current chart but can be taken from an input.
The sole advantage over the short and neat Pinecoders f_resInMinutes function from their excellent MTF Selection Framework (at ) is that this one doesn't use up a security() call.
To convert the other way, from minutes to timeframe.period format, I would use the f_resFromMinutes function from the Pinecoders' MTF Selection Framework, which does not use security().
ERROR-CHECKING: It has light error-checking to try to make sure the string is in the format timeframe.period, e.g. 15S, 1 (minute), 60 (1H), 1D, 1W, 1M.
It will throw an error for some non-standard timeframes such as 30 hours (1800 minutes). Above 1440 minutes, only whole numbers of days are allowed. This is to be consistent with the security() function.
But it will allow some non-standard timeframes such as 7 hours (420 minutes). Such timeframes must still be supplied in the standard timeframe.period format.
param _tf
The timeframe to convert to minutes. Must be in timeframe.period format.
returns
An integer representing the number of minutes that the timeframe period is equivalent to.
MTF Countdown with Direction - AynetIndicator Definition and Inputs:
pineCopyindicator('MTF Countdown with Direction - Aynet', overlay = true)
This code creates a Multiple Time Frame (MTF) countdown indicator with direction
The overlay = true parameter places the indicator on top of the price chart
Timeframe Options:
Users can choose to show/hide the following timeframes:
1 minute
5 minutes
15 minutes
30 minutes
1 hour
4 hours
Daily
Time Calculations:
pineCopyget_current_time()
Calculates the current time
Converts Unix timestamp to seconds
Calculates time since midnight
Returns time broken down into hours, minutes, and seconds
Countdown Calculation:
pineCopyget_period_countdown(period_seconds)
Calculates remaining time for each timeframe
Computes elapsed time in current period
Returns remaining time in hours, minutes, and seconds
Direction and Closing Price Calculation:
Separate functions for each timeframe (get_direction_and_close_1m(), get_direction_and_close_5m(), etc.)
Each function:
Gets current closing price
Compares with previous closing price
Determines direction (up: 1, down: -1, sideways: 0)
Returns direction and closing price
Table Creation and Updates:
Creates a table in the top right corner
Table consists of 4 columns:
Period (Timeframe)
Time Left (Remaining time)
Direction (Shown with arrows)
Close (Closing price)
Each row has a different background color
Direction arrows:
Green up arrow (▲): Price rising
Red down arrow (▼): Price falling
Gray line (―): Price sideways
Dynamic Data Structures:
pineCopyvar timeframes = array.new_int()
var timeframe_names = array.new_string()
var show_array = array.new_bool()
Uses dynamic arrays for timeframes
Adds selected timeframes to arrays on first run
Key Features:
Shows remaining time until period close
Displays price direction for each timeframe
Shows current closing prices
All information in a single, easy-to-read table
This indicator helps traders by providing a comprehensive view of:
When each timeframe will close
The direction of price movement
Current closing prices
across multiple timeframes in a single table, making it easier to track market movements across different time periods.
The color-coding and arrow system makes it visually intuitive to understand market direction at a glance, while the countdown timer helps with timing decisions.
MTF WaveTrend [CryptoSea]The MTF WaveTrend Indicator is a sophisticated tool designed to enhance market analysis through multi-timeframe WaveTrend calculations. This tool is built for traders who seek to identify market momentum and potential reversals with higher accuracy.
In the example below, we can see all the choosen timeframes agree on bearish momentum.
Key Features
Multi-Timeframe WaveTrend Analysis: Tracks WaveTrend values across multiple timeframes to provide a comprehensive view of market momentum.
Customizable Colour Rules: Offers three different colour rules (Traditional, WT1 0 Rule, WT1 & WT2 0 Rule) to suit various trading strategies.
Timeframe Visibility Control: Allows users to enable or disable specific timeframes, providing flexibility in analysis.
Clear Visual Indicators: Uses color-coded squares and labels to clearly display WaveTrend status across different timeframes.
Candle Colouring Option: Includes a setting for neutral candle coloring to enhance chart readability.
This example shows what can happen when all timeframes start alligning with eachother.
How it Works
WaveTrend Calculation: Computes the WaveTrend oscillator by applying a series of exponential moving averages and scaling calculations.
Multi-Timeframe Data Aggregation: Utilizes the `request.security` function to gather and display WaveTrend values from various timeframes without repainting issues.
Conditional Plotting: Displays visual cues only when higher timeframes align with the selected timeframe, ensuring relevant and reliable signals.
Dynamic Colour Rules: Adjusts the indicator colors based on the chosen rule, whether it's a traditional crossover, WT1 crossing zero, or both WT1 & WT2 crossing zero.
Traditional: Colors are determined by the relationship between WT1 and WT2. If WT1 is greater than WT2, it is bullish (bullColour), otherwise bearish (bearColour).
WT1 0 Rule: Colors are based on whether WT1 is above or below zero. WT1 above zero is bullish (bullColour), below zero is bearish (bearColour).
WT1 & WT2 0 Rule: A more complex rule where both WT1 and WT2 need to be above zero for a bullish signal (bullColour) or both below zero for a bearish signal (bearColour). If WT1 and WT2 are not in agreement, a neutral color (neutralColour) is displayed.
This indicator will make sure that the lowest timeframe you can see data from will be the timeframe you are on. This is to avoid false signals as you cannot display 3 x 5 minute candles whilst looking at the 15 minute candle.
Application
Strategic Decision-Making: Assists traders in making informed decisions by providing detailed analysis of WaveTrend movements across different timeframes.
Trend Confirmation: Reinforces trading strategies by confirming potential reversals with multi-timeframe WaveTrend analysis.
Customized Analysis: Adapts to various trading styles with extensive input settings that control the display and sensitivity of WaveTrend data.
The MTF WaveTrend Indicator by is an invaluable addition to a trader's toolkit, offering depth and precision in market trend analysis to navigate complex market conditions effectively.
MTF Bollinger BandWidth [CryptoSea]The MTF Bollinger BandWidth Indicator is an advanced analytical tool crafted for traders who need to gauge market volatility and trend strength across multiple timeframes. This powerful indicator leverages the Bollinger BandWidth concept to provide a comprehensive view of price movements and volatility changes, making it ideal for those looking to enhance their trading strategies with multi-timeframe analysis.
Key Features
Multi-Timeframe Analysis: Allows users to monitor Bollinger BandWidth across various timeframes, providing a macro and micro perspective on market volatility.
Pivot Point Detection: Identifies crucial high and low pivot points, offering insights into potential support and resistance levels. Pivot points are dynamic and adjust based on the timeframe viewed, reflecting short-term fluctuations or longer-term trends.
Customizable Parameters: Includes options to adjust the length of the moving average, the standard deviation multiplier, and more, enabling traders to tailor the tool to their specific needs.
Dynamic Color Coding: Utilizes color changes to indicate different market conditions, aiding in quick visual assessments.
In the example below, notice how changes in BBW across different timeframes provide early signals for potential volatility increases or decreases.
How it Works
Calculation of BandWidth: Measures the percentage difference between the upper and lower Bollinger Bands, which expands or contracts based on market volatility.
High and Low Pivot Tracking: Automatically calculates and tracks the pivots in BBW values, which are critical for identifying turning points in market behavior. High and low levels will change depending on the timeframe, capturing distinct market behaviors from granular movements to broad trends.
Visual Alerts and Table Display: Highlights significant changes in BBW with visual alerts and provides a detailed table view for comparison across timeframes.
In the example below, BBW identifies a significant contraction followed by an expansion, suggesting a potential breakout.
Application
Strategic Market Entry and Exit: Assists traders in making well-informed decisions about when to enter and exit trades based on volatility cues.
Trend Strength Assessment: Helps in determining the strength of the prevailing market trend through detailed analysis of expansion and contraction periods.
Adaptable to Various Trading Styles: Suitable for day traders, swing traders, and long-term investors due to its customization capabilities and effectiveness across different timeframes.
The MTF Bollinger BandWidth Indicator is a must-have in the arsenal of traders who demand depth, accuracy, and responsiveness in their market analysis tools. Enhance your trading decisions by integrating this sophisticated indicator into your strategy to navigate the complexities of various market conditions effectively.
MTF Williams Vix Market Bottoms [CryptoSea]MTF Williams Vix Fix Indicator is a dynamic tool tailored for traders looking to capture market extremes with high precision. This multi-timeframe indicator leverages the concept of the Williams Vix Fix to spot potential reversals before they occur.
Key Features
Multi-Timeframe Analysis: Provides simultaneous visibility across multiple timeframes, enabling traders to assess market conditions comprehensively from a single chart.
Advanced Volatility Detection: Utilizes a modified Vix Fix formula to highlight extreme price deviations, which often precede significant market reversals.
Customizable Settings: Offers extensive input options to tweak the lookback periods, percentile thresholds, and visibility settings, aligning with various trading strategies.
Visual Band Indicators: Features upper bands and range highs that signal potential overbought and oversold conditions, enhancing trading decision-making.
Below, you can see how the indicator performs across different timeframes, providing valuable insights into market behavior.
How it Works
Vix Fix Calculation: Determines the worst-case 'panic' sell-offs in price as a percentage of the high, capturing the emotional extremes of the market.
Statistical Bands: Employs Bollinger bands over the Vix Fix values to define normal and extreme volatility conditions.
Color-Coded Indicators: Uses color differentiation to instantly highlight when readings surpass critical upper band or range high thresholds, signaling key trading opportunities.
For instance, in the analysis provided below, notice how the indicator flags significant market moves, allowing traders to anticipate potential entry or exit points.
Application
Risk Management: Aids in identifying extreme market conditions where prices may revert, helping in effective position sizing and risk management.
Strategic Planning: Enhances strategic trading plans by identifying not only when but also where market extremes may occur, considering multiple timeframes.
Customization: Adapts seamlessly to different market environments with adjustable settings for volatility thresholds and visual display preferences.
The MTF Williams Vix Fix Indicator by is an essential tool for traders aiming to leverage market volatility for optimal entry and exit, ensuring they are well-equipped to handle market extremes with confidence.
MTF Supertrend [CryptoSea]The MTF Supertrend Indicator is a versatile tool crafted to enhance trend analysis across multiple timeframes. Leveraging the reliable Supertrend formula, it provides traders with a comprehensive view of market trends and potential reversal points.
Key Features
Multi Timeframe Analysis: Tracks Supertrend signals over a variety of timeframes, offering a broad perspective on market direction.
Percentage Threshold Display: Filters out Supertrend data that is not within a specified percentage of the current price, keeping the display focused on relevant trends.
Adaptive Visual Display: Features a dynamic table that shows the current Supertrend status, which is fully customizable to the user's display preferences.
Customizable Sensitivity: Users can fine-tune the factor and ATR period settings, allowing for personalized trend sensitivity.
How it Works
Supertrend Calculation: Computes the Supertrend using the Average True Range (ATR) multiplied by a customizable factor, detecting changes in volatility and trend.
Higher Timeframe Filtering: Prioritizes higher timeframe trends over the current chart's timeframe to avoid chart clutter and focus on the most significant trends.
Colour-Coded Trends: Utilizes colour coding to clearly indicate bullish and bearish trends, aiding quick visual analysis.
Responsive Display Options: Includes a switchable table view to overlay trend information on the chart, with options for dark and light themes.
Benefits for Different Trading Styles
Day Traders: Use real-time updates to catch short-term trend reversals and ride the momentum for quick profits.
Swing Traders: Benefit from viewing medium to long-term trends to formulate strategies that span several days or weeks.
Position Traders: Utilize the monthly supertrend data to make long-term investment decisions based on prevailing market directions.
Application
Strategic Decision-Making: Assists traders in making informed decisions by providing a layered view of trend directions across timeframes.
Trend Confirmation: Reinforces trading strategies by confirming trends with higher timeframe Supertrend alignment.
Customized Analysis: Adapts to various trading styles with input settings that control the display and sensitivity of trend data.
The MTF Supertrend Indicator by is a powerful addition to the trader's toolkit, enhancing multi-timeframe trend analysis and contributing to a strategic trading approach in volatile markets.
RSI Graphique and Dashboard MTFMTF RSI Indicator - User Guide
Introduction:
The MTF RSI (Multi-Timeframe Relative Strength Index) Pine Script is designed to provide traders with a comprehensive view of the RSI (Relative Strength Index) across multiple timeframes. The script includes a primary chart displaying RSI values and a dashboard summarizing RSI trends for different time intervals.
Installation:
Copy the provided Pine Script.
Open the TradingView platform.
Create a new script.
Paste the copied code into the script editor.
Save and apply the script to your chart.
Primary Chart:
The primary chart displays RSI values for the selected timeframe (5, 15, 60, 240, 1440 minutes).
different color lines represent RSI values for different timeframes.
Overbought and Oversold Levels:
Overbought levels (70) are marked in red, while oversold levels (30) are marked in blue for different timeframes.
Dashboard:
The dashboard is a quick reference for RSI trends across multiple timeframes.
Each row represents a timeframe with corresponding RSI trend information.
Arrows (▲ for bullish, ▼ for bearish) indicate the current RSI trend.
Arrow colors represent the trend: blue for bullish, red for bearish.
Settings:
Users can customize the RSI length, background color, and other parameters.
The background color of the dashboard can be adjusted for light or dark themes.
Interpretation:
Bullish Trend: ▲ arrow and blue color.
Bearish Trend: ▼ arrow and red color.
RSI values above 70 may indicate overbought conditions, while values below 30 may indicate oversold conditions.
Practical Tips:
Timeframe Selection: Consider the trend alignment across different timeframes for comprehensive market analysis.
Confirmation: Use additional indicators or technical analysis to confirm RSI signals.
Backtesting: Before applying in live trading, conduct thorough backtesting to evaluate the script's performance.
Adjustment: Modify settings according to your trading preferences and market conditions.
Disclaimer:
This script is a tool for technical analysis and should be used in conjunction with other indicators. It is not financial advice, and users should conduct their own research before making trading decisions. Adjust settings based on personal preferences and risk tolerance. Use the script responsibly and at your own risk.
MTF - Zigzag + Tech IndicatorsMTF - Zigzag + Tech Indicators
At high level the indicator can be a useful tool while analyzing the charts. It marks swing points (Zigzag) on 3 different timeframes along with capability to view key technical indicator values at each of the swing point.
Normally Zaizag indicators are useful for identifying primary trend and retracements. Zigzags also help in identifying key support and resistance areas. Traders develop various trading strategies based on Zigzags.
Most of the published Zigzag indicators use single timeframe / chart timeframe to draw the Zigzag lines but, many traders/chart analysts would like to analyze trends on multiple timeframes. Single timeframe Zigzags makes such analysis little difficult.
This indicator is an advanced version of Zigzag which allow users to draw Zigzag lines on multiple timeframes. It allows users to input 2 additional higher timeframes and in total it draws Zigzag on 3 timeframes i.e., on chart timeframe and 2 additional higher timeframes.
Once loaded on the chart, it draws Zigzag lines and plot labels (HH, LL, HL, LH) which denotes swing points. Each of the swing point label has a tooltip attached to it, which provide few additional data point, to view the additional data points, hover the mouse over the label.
Swing label tooltip shows these additional data points:
Tag: Swing type (HH, LL, HL, LH) + Bar time (in dd-mm-yyyy hh:mm format)
Price point: Swing price point
Price change: Price change since previous swing point along with change %
Swing volume: Volume since previous swing point in million
Key technical indicator values:
RSI (close, 14)
Stochastic (close, high, low, 14)
ADX (14, 14)
SMA20
SMA50
SMA100
SMA200
Use cases:
Support resistance: Though most of the swing points of a zigzag are treated as a support or resistance. This indicator allows to add more depth to the analysis. E.g., swing points based on lowest timeframe (chart timeframe) can be treated as weak support/resistance whereas swing points based on higher timeframe can treated as strong support/resistance and prices need to hit it multiple time to cross/break the same.
Trend identification: Trend on lowest timeframe (chart timeframe) can be a immediate term trend, trend on the mid-level higher timeframe can be a short term trend and trend on the highest level timeframe can be a long term trend.
Trade identification, entry, and exit: MTF Zigzag can also be creatively used while trading. Eg. One can identify a trend on highest level timeframe and use mid-level timeframe for trade entry and lowest level timeframe can be used for Take Profit levels (TP1, TP2, ..) and Stop loss. Alternatively, Trend can be identified on highest or mid-level timeframe and trade entry/exit can be based on lowest level timeframe.
Use of information displayed in tooltip: Analysts/traders look for confirmations from other indicators while initiating trades. These additional indicator values become handy/readily available source of information without specifically navigating through different indicators/charts. These indicator values can be creatively used in many ways. Some of the examples are:
Easy comparison of values of moving averages on all 3 timeframes
Better assessment of momentum and overbought/oversold based on value of stochastic and rsi
Use of ADX to determine the strength of the trend
Trade decision based on increasing or decreasing order of moving averages
Trade decision, based order of moving averages combined with overbought/oversold and strength of the trend
Chart examples: TCS on 60m/4h/1D
ITC 4h/1D
Input Parameters:
1. Chart timeframe zigzag setup: to plot zigzag based on chart timeframe
2. Higher timeframe zigzag setup: to plot zigzag based on higher timeframe
3. Higher timeframe zigzag setup 1: to plot zigzag based on another higher timeframe
Each of these have user selectable options:
1. Color/width of the zigzag line
2. plot zigzag line - select/unselect
3. plot HHLL labels - select/unselect
Both (2 and 3) Higher timeframe setups allow to select higher timeframe and offset. Offset can be 0 or 1. This setting normally used to avoid repainting. Select offset as 1 to avoid repainting.
For Pine script developers:
Script elements:
1. Input parameters
2. Type definition (UDT) for ohlc and ph, pl data elements
3. Map definition for visual properties
4. Type instances for chart_tf, higher_tf1, higher_tf2
5. Important variable – for indicator values
6. Methods –
a. get_ph_pl() – get ph, pl data for each of the tf along with indicator values
b. add_ph(), add_pl() – add ph, pl data to timeframe specific udt, plot the zigzag and labels, add tooltip to label
Script structure
1. Input parameters
2. Variable and type definitions
3. Methods and functions
4. For each of timeframe, call functions and methods
a. Check ph, pl (if swing point formed)
b. Plot ph, pl (if applicable) i.e. zigzag line, labels
MTF TMOTMO - (T)rue (M)omentum (O)scillator) MTF (Higher Aggregation) Version
TMO calculates momentum using the DELTA of price. Giving a much better picture of the trend, reversals & divergences than most momentum oscillators using price. Aside from the regular TMO, this study combines four different TMO aggregations into one indicator for an even better picture of the trend. Once you look deeper into this study you will realize how complex this tool is. This version also produce much more information like crosses, divergences, overbought / oversold signals, higher aggregation fades etc. It is probably not even possible to explain them all, there could easily be an entire e-book about this study.
I have been using this tool for a couple of years now, and this is what i have learned so far:
Favorite Time Frame Variations:
1. 1m / 5m / 30m - Great for intraday futures or options scalps. 30m TMO serves as the overall trend gauge for the day. 5min dictates the longer term intraday moves as well as direction of the 1min. 1min is for the scalps. When the 5min TMO is sloping higher focus should be on 1min buy signals (red to green cross) and vice versa for the 5min agg. sloping down.
2. 5m / 30m / 60m - Also an interesting variation for day trading the 3-5 min charts. Producing more cleaner & beginner-friendly signals that lasts couple of minutes instead of seconds.
3. 120m / Day / 2 Day - For the 30m to 1H or 2H timeframes. Daily & 2 Day dictates the overall trend. 120 min for the signals. Great for a multi-day swings.
4. Day / 2 Day / Week - Good for the daily charts, swing trading analysis as the weekly dictates the overall trend, daily dictates the signals and the 2 day cleans out the daily signals. If the daily & 2 day are not aligned togather, daily signal means nothing. Weekly dictates 2 day - 2 day dictates daily.
5. Week / Month / 3 Month - Same thing as the previous variation but for the weekly charts.
TMO Length:
The default vanilla settings are 14,5,3. Some traders prefer 21,5,3 as the TMO length is litle higher = TMO will potenially last little longer which could teoretically produce less false signals but slower crosses which means signals will lag more behind price. The lower the length, the faster the oscillator oscillates. It is the noice vs. the lag debate. The Length can be changed, but i would not personally touch the other two. Few points up or down on length will not drastically change much. But changes on Calc Length and Smooth Length can produce totally different signals from the original.
Tips & Tricks:
1. Observe
- This is the best tip & trick I can give you. The #1 best way to learn how any study operates is to just observe how it works in certain situations from the past. MTF TMO is not
an exception.
2. The Power of the Higher Aggregation
- The higher aggregation ALWAYS dictates the lower one. Best way to see this? Just 2x the current timeframe aggregation = so on daily chart, plot the daily & two day TMOs and you will notice how the higher agg. smooths out the current agg. The higher the aggregation is, the smoother (but slower) will the TMO turn. The real power kicks in when the 3 or 4 aggregations are aligned togather in one direction.
3. Position of the Higher Aggregation in Relation to the Extremes
- Overbought / oversold signals might not really work on the current aggregation. But pay attention to the higher aggregations in relation to the extremes. Ex: on the daily chart - daily TMO inside the OB / OS extremes might not mean much. But once the higher aggregations such as 3 day or Weekly TMO enters OB/OS zone togather with the daily, this can be a very powerful signal for a TMO reversion to the zeroline.
4. Crosses
- Yes, crosses do work. Personally, I never really focused on them. The thing about the crosses is that it is crucial to pick the right higher aggregation to the combination of the current one that would be reliable but also print enough signals. The closer the cross is to the OB / OS extremes, the more bigger move can occur. Crosses around the zero line can be considered as less quality crosses.
5. Divergences
- TMO can print awesome divergences. The best divergences are on the current aggregation (TMO agg. same as the chart) since the current agg. oscillates fast, it can usually produce lower lows & higher highs faster then any higher aggregations. Easy setup: wait for the higher aggregation to reach the OB / OS extremes and watch the current (chart) aggregation to print a divergence.
6. Three is Enough
- I personally find more than three aggregations messy and hard to read. But there is always the option to turn on the 4th one. Just switch the TMO 4 Main, TMO 4 Signal and TMO 4 Fill in the style settings.
Hope it helps.
MTF Phoenix TableThis is a MTF heatmap companion for the Phoenix Ascending indicator by WyckoffMode. It aims to make MTF analysis easier at a quick glance.
The row headings are color coordinated for easy visual recognition.
MTF Stochastic, A versionHey everybody,
Here is a version of a MTF Stochastic script I wrote a while ago. The code is based on a formula written by Peter_O and the built in Tradingview Stochastic indicator. See this link to the original script of Peter_O. I use this formula a lot if I want to build in a Stochastic trend filter in my strategies. In this version I added options to plot different signals and trends.
MTF RSI & STOCH Strategy by kziThis script is a teaml job with Indicator-Johns.
First he used my script, then i transform his code.
The origine:
The first transformation:
www.tradingview.com
Funny moment together, thanks for that. :)
This sharing is an indicator where you can see the average of different time frames.
The RSI is the blue line
The Stock is the yellow line
You can manage the timeframe in the parameters.
The strategy is to take position when the two lines get overbought or oversold and close when the stoch and RSI goes to the middle.
MTF previous high and low quarter levelsDescription
An experimental script that prints quarter levels of the previous timeframe's high and low to the current timeframe. The idea is quite simple and is basically the Fibonacci pivoted on the previous high and low with quarter level settings (0,0.25,0.5,0.75,1 etc). The default setting is the previous daily high and low but can be customized on user discretion.
New quarter levels are printed after the close of the previous timeframe and open of the new timeframe (user's timeframe setting)
How To Use
Levels should not be used blindly. Levels can be used as confluence when aligned with high probability supply and demand zones, support, resistance, order blocks, and so on.
Credit to @HeWhoMustNotBeNamed for the Previous High/Low MTF indicator code and @mrbirman for the idea to put this together.
MTF Custom Moving AveragesThis user-friendly indicator allows up to 8 moving averages ( EMA or SMA ) from any timeframe, on any time frame. There are plenty of other MTF MA indicators, each with their own pros and cons. I wanted to make one without the cons:
- Independently set each MA to Exponential or Simple
- No preset lengths
- No preset timeframes
- Optional labels to help keep track of the period/length/type of each plot
- Clean, intuitive input layout
- More than enough MAs available to use one indicator for several use cases... just check/uncheck the ones that are relevant to each chart
Watch for death crosses on the 4hr while monitoring the "Bull Market Support band" (Weekly 21 EMA and 20 SMA ) and checking the Monthly 10 EMA for major support or resistance. Toggle between half of the available MAs for long term BTC trends and use the others for your alts. Use this one indicator to support multiple strategies.
Please leave a comment if you find it useful or have suggestions!
Inspired by the first MTF indicator I found: Weekly Moving Average by TommyTompsen.
MTF V trendSo i try to make this trend line based on MA volume that i created in the past
orange is downtrend, lime is uptrend
you have MTF function so you can put it on which time frame you want
if you want it to be exact on the candles then fix the tf to time in min
for example : on 4 hour candles put 240 and MTF of 4 hour
MTF Ichimoku CloudHere is my take on Ichimoku Cloud, Multiple Time Frames, based on the
most excellent work of "PineCoders" (MTF Selection Framework functions)!
The big advantage is that on 1 image you can easily see where
price is compared to Ichimoku Cloud patterns (each of different Time Frames).
This gives a lot of Support and Resistance area's!
I restricted the amount of MTF's at 2, more is just too messy
To make it more clear:
- Conversion line and Baseline in present timeframe : thick line
- Conversion line and Baseline in Higher Time Frame (HTF 1) : thin line
- Conversion line and Baseline in Higher Time Frame (HTF 2) : line with circles
All lines has labels at the right of the line with corresponding Time Frame
Since some prefer different settings with higher Time Frames,
each period in each Time Frame can be changed
The Time Frames itself can be chosen:
- or a multiple of present Time Frame
- or a fixed chosen Time Frame
Thanks!
MTF PO3 Big Candle By Rouro📊 MTF PO3 Big Candle By Rouro
This indicator allows you to visualize candles from higher timeframes (HTF) directly on lower timeframe charts.
It draws:
📉 Past candles from the selected HTF.
📈 A projected current candle of a chosen timeframe, extended to the right of the chart.
It's ideal for traders who want to align decisions on lower timeframes with key HTF structures.
⚙️ Inputs & Configuration
🕐 Past Candle Timeframe
Selects the timeframe to visualize historical candles.
(e.g., 4H on a 5-minute chart)
📅 Projected Candle Timeframe
Chooses the timeframe for the current (live) candle that is drawn to the right of the chart.
(e.g., 1D)
➡️ Right Displacement (bars)
Controls how far to the right the projected candle is drawn.
🟩 Bullish Body Color
Defines the color of bullish candle bodies.
🟥 Bearish Body Color
Defines the color of bearish candle bodies.
🔵 Wick Color
Color of the high/low wicks.
🔲 Body Transparency (0–100)
Controls the transparency of the candle body fill.
📌 Show Wicks
Enables or disables drawing of the wicks on all candles.
💡 Notes
If the projected candle is from a very large timeframe (e.g., 1D) and you are on a small timeframe (e.g., 5m), the projection length is limited to avoid overlapping the chart.
All candle shapes update in real time.
The indicator is optimized for performance and includes fail-safes for TradingView's limits.
💬 Support
If you have any questions, feel free to ask in the comments.
If this indicator has been useful or valuable for your trading, please leave a comment saying so — your feedback helps the community and supports the publication process.
✅ Compliant with TradingView’s house rules: No ads, sales, links, or misleading claims.
📌 This is a visual utility tool designed to support multi-timeframe analysis.
MTF Pivot Fib Speed Resistance FansOverview
This Pine Script indicator, titled "MTF Pivot Fib Speed Resistance Fans", is a multi-timeframe tool that automatically plots Fib Speed Resistance Fan lines based on pivot structures derived from higher timeframes. It mirrors the functionality of TradingView’s built-in “Fib Speed Resistance Fan” drawing tool, but in a dynamic, programmatic way. It uses pivot highs and lows to anchor fan projections, drawing forward-facing trend lines that align with well-known Fibonacci ratios and their extensions.
Pivot Detection Logic
The script identifies pivots by comparing the current bar’s high and low against the highest and lowest prices over a user-defined pivot period. This pivot detection occurs on a higher timeframe of your choice, giving a broader and more strategic view of price structure. The script tracks direction changes in the pivot trend and stores only the most recent few pivots to maintain clean and meaningful fan drawings.
Fan Direction Control
The user can select whether to draw fans for "Buys", "Sells", or "Both". The script only draws fan lines when a new directional move is detected based on the pivot structure and the selected bias. For example, in “Buys” mode, a rising pivot followed by another higher low will trigger upward fan projections.
Fib Speed Resistance Levels
Once two pivots are identified, the script draws multiple fan lines from the first pivot outward, at angles defined by a preset list of Fibonacci levels. These fan lines help visualize speed and strength of a price move.
The script also draws a horizontal line from the pivot for additional confluence at the base level (1.0).
Price Level Plotting
In addition to drawing fan lines, the indicator also plots their price levels on the right-hand price scale. This makes it easier for users to visually reference the projected support and resistance levels without needing to trace the lines manually across the chart.
Mapping to TradingView’s "Fib Speed Resistance Fan"
The expanded set of values used in this script is not arbitrary—they closely align with the default and extended levels available in TradingView's built-in "Fib Speed Resistance Fan" tool.
TradingView’s Fib Fan tool offers several levels by default, including traditional Fibonacci ratios like 0.382, 0.5, 0.618, and 1. However, if you right-click the tool and open its settings, you’ll find additional toggles for levels like 1.618, 2.000, 2.618, and even 4.000. These deeper levels are used to project stronger trend continuations beyond the standard retracement zones.
The inclusion of levels such as 0.25, 0.75, and 1.34 reflects configurations that are available when you manually add or customize levels in TradingView’s fan tool. While 1.34 is not a canonical Fibonacci ratio, it is often found in hybrid Gann/Fib methods and is included in some preset templates in TradingView’s drawing tool for advanced users.
By incorporating these levels directly into the Pine Script, the indicator faithfully reproduces the fan structure users would manually draw using TradingView’s graphical Fib Fan tool—but does so programmatically, dynamically, and with multi-timeframe control. This eliminates manual errors, allows for responsive updating, and adds custom visual tracking via the price scale.
These values are standardized within the context of TradingView's Fib Fan tool and not made up. This script automates what the manual drawing tool achieves, with added precision and flexibility.
MTF MACD 4-Color Momentum System🎯 Overview
The MTF MACD 4-Color Momentum System is an advanced MACD indicator that provides crystal-clear momentum visualization through an innovative 4-color state system. Unlike traditional MACD indicators that only show positive/negative values, this indicator identifies four distinct market states to help traders make more informed decisions.
📊 Key Features
1. Four-State Color System:
🟢 Lime: Above zero + Rising (Strong Bullish Momentum)
🟢 Dark Green: Above zero + Falling (Weakening Bullish Momentum)
🔴 Red: Below zero + Falling (Strong Bearish Momentum)
🔴 Maroon: Below zero + Rising (Weakening Bearish Momentum)
2. Multi-Timeframe Analysis:
View higher timeframe MACD on lower timeframe charts
Confirm trends across multiple timeframes
Reduce false signals with multi-timeframe confluence
3. Flexible Display Options:
Three visualization styles: Histogram, Columns, or Line
Toggle individual color states on/off
Customizable colors and line widths
4. Advanced Features:
Optional histogram smoothing to reduce noise
Zero-cross alerts with visual markers
Color state change alerts
Real-time value display
Customizable signal line overlay
💡 How to Use
1. Momentum Identification:
Lime bars indicate strong upward momentum - ideal for long entries
Dark green suggests momentum is slowing - consider taking profits
Red bars show strong downward momentum - ideal for short entries
Maroon indicates potential reversal brewing - prepare for direction change
2. Zero Line Crosses:
Blue triangles mark bullish crosses above zero
Pink triangles mark bearish crosses below zero
Use these as confirmation signals with other indicators
3. Multi-Timeframe Confirmation:
Set to higher timeframe (e.g., 4H on 15m chart)
Look for alignment between timeframes before entering trades
Avoid trades against higher timeframe momentum
⚙️ Settings Guide
MACD Parameters:
Fast EMA: 12 (default) - Adjust for more/less sensitivity
Slow EMA: 26 (default) - Standard MACD setting
Signal: 9 (default) - Smoothing period
Display Customization:
Choose between Histogram, Columns, or Line display
Enable/disable specific color states
Adjust visual properties to match your chart theme
Alerts:
Zero cross alerts for trend changes
Color state alerts for momentum shifts
📈 Trading Strategies
1. Momentum Continuation:
Enter longs when MACD turns lime (above zero + rising)
Enter shorts when MACD turns red (below zero + falling)
Exit when color shifts to "weakening" state
2. Reversal Trading:
Watch for maroon in downtrends (potential bottom)
Watch for dark green in uptrends (potential top)
Confirm with price action and support/resistance
3. Multi-Timeframe Confluence:
Use daily MACD on 1H chart for trend direction
Enter on lower timeframe signals in direction of higher timeframe
Avoid counter-trend trades when higher timeframe shows strong momentum
🎓 Pro Tips
Combine with volume indicators for confirmation
Use with support/resistance levels for better entries
Enable smoothing in choppy markets to reduce false signals
Pay attention to divergences between price and MACD
⚠️ Risk Disclaimer
This indicator is for educational purposes only. Always use proper risk management and combine with other analysis methods. Past performance does not guarantee future results.
MTF Stochastic RSIOverview: MTF Stochastic RSI
is a momentum-tracking tool that plots the Stochastic RSI oscillator for up to four user-
defined timeframes on a single panel. It provides a compact yet powerful view of how
momentum is aligning or diverging across different timeframes, making it suitable for both
scalpers and swing traders looking for multi-timeframe confirmation.
What it does:
Calculates Stochastic RSI values using the RSI of price as the base input and applies
smoothing for stability.
Aggregates and displays the values for four customizable TF (e.g., 5min, 15min, 1h, 4h).
Highlights potential support and resistance zones in the oscillator space using adaptive zone
logic.
Optionally draws dynamic support/resistance zone lines in the oscillator space based on
historical turning points.
How it works:
Each timeframe uses the same RSI and Stoch calculation settings but runs independently via
the request.security() function.
Stochastic RSI is calculated by first applying the RSI to price, then applying a stochastic
formula on the RSI values, and finally smoothing the %K output.
Adaptive overbought and oversold thresholds adjust based on ATR-based volatility and simple
trend filtering (e.g., price vs EMA).
When a crossover above the oversold zone or a crossunder below the overbought zone
occurs, the script checks for proximity to previously stored zones and either adjusts or
records a new one.
These zones are stored and re-plotted as dotted support/resistance levels within the
oscillator space.
What it’s based on:
The indicator builds upon traditional Stochastic RSI by applying it to multiple timeframes in
parallel.
Zone detection logic is inspired by the idea of oscillator-based support/resistance levels.
Volatility-adjusted thresholds are based on ATR (Average True Range) to make the
overbought/oversold zones responsive to market conditions.
How to use it:
Look for alignment across timeframes (e.g., all four curves pushing into the overbought
region suggests strong trend continuation).
Reversal risk increases when one or more higher timeframes are diverging or showing signs of
cooling while lower timeframes are still extended.
Use the zone lines as soft support/resistance references within the oscillator—retests of
these zones can indicate strong reversal opportunities or continuation confirmation.
This script is provided for educational and informational purposes only. It does not constitute financial advice, trading recommendations, or an offer to buy or sell any financial instrument. Always perform your own due diligence, use proper risk management, and consult a qualified financial professional before making any trading decisions. Past performance does not guarantee future results. Use this tool at your own discretion and risk.
MTF TTM Squeeze ProOverview
The MTF TTM Squeeze Pro indicator helps traders identify market compression (squeeze) conditions and analyze momentum across multiple timeframes. It is based on the TTM Squeeze concept, which uses Bollinger Bands and Keltner Channels to detect price consolidation periods that often precede strong breakouts.
This script enhances the standard TTM Squeeze by providing a multi-timeframe view, allowing traders to assess market conditions across intraday, daily, and weekly charts simultaneously.
⸻
How It Works
1. Squeeze Detection using Bollinger Bands & Keltner Channels
• High Compression Squeeze (Orange): Strongest squeeze, indicating extreme consolidation.
• Medium Compression Squeeze (Red): Moderate squeeze, potential breakout setup.
• Low Compression Squeeze (Black): Mild squeeze, possible momentum shift.
• No Squeeze (Green): Market is trending, no consolidation detected.
2. Momentum Analysis
The script features a custom linear regression momentum oscillator to gauge market direction:
• Positive rising momentum (Aqua) suggests bullish acceleration.
• Positive falling momentum (Blue) indicates slowing bullish momentum.
• Negative rising momentum (Red) signals bearish weakening.
• Negative falling momentum (Yellow) represents strengthening bearish momentum.
3. Multi-Timeframe Display
The indicator provides a table panel showing squeeze conditions and momentum colors for:
✅ 15m, 30m, 55m, 78m, 195m, Daily (D), and Weekly (W) timeframes.
This makes it easier to spot confluences across different periods, helping traders align their entries with larger trends.
⸻
How to Use
✔️ Look for a high compression squeeze (orange dots) as potential breakout zones.
✔️ Check if momentum colors are aligned across multiple timeframes to confirm direction.
✔️ Trade in the direction of momentum once the squeeze is released.
Best Used For:
📈 Swing Trading – Identify multi-day setups using the D/W squeeze signals.
📉 Intraday Trading – Use 15m-78m signals for faster entries and exits.
⸻
Credits & Open-Source Compliance
This script is inspired by the original TTM Squeeze Pro and based on open-source contributions from the TradingView community. Significant modifications include:
✔️ Improved multi-timeframe data request for momentum & squeeze.
✔️ Enhanced visual display with a compact and informative table panel.
✔️ Added detailed documentation for better usability.
📌 Original Source: TradingView Script by Beardy_Fred
⸻
Final Notes
✅ Designed for stocks, forex, and crypto.
✅ Fully customizable squeeze & momentum settings.
Enjoy trading, and may the squeeze be with you! 🚀
