Discussion of article "MTF indicators as the technical analysis tool"

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New article MTF indicators as the technical analysis tool has been published:

Most of traders agree that the current market state analysis starts with the evaluation of higher chart timeframes. The analysis is performed downwards to lower timeframes until the one, at which deals are performed. This analysis method seems to be a mandatory part of professional approach for successful trading. In this article, we will discuss multi-timeframe indicators and their creation ways, as well as we will provide MQL5 code examples. In addition to the general evaluation of advantages and disadvantages, we will propose a new indicator approach using the MTF mode.

Classification of multi-timeframe indicators

These indicators are presented in all standard classes, while most of them are of the complex type, i.e. combine calculations and graphical elements. The indicator groups are shown below:

1. Informational: such indicators displays data and additional information without signals or graphics. A classic example is the MultiTimeFrame indicator. 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. The indicator screen is filled with a large amount of useful information, which however is hard to use in trading and can only be viewed.

Fig. 1. Information indicators

This group also features independent tools which can be used to make trading decisions. They display the analysis results of several standard indicators without the need to install such indicators on a chart (the calculation is performed automatically), as well as generate trade recommendations.


Fig. 2. Signals of information indicators

Author: Alexander Lasygin

 

https://www.metatrader5.com/ru/terminal/help/algotrading/trade_robots_indicators#ѕетСпасибо to the author for the article.

Multiscale approach to analysis is absolutely the right way.

However, within the framework of traditional technical, as well as wave and other types of analysis, the key issue is not solved, namely:

Each trader determines the value of indicator settings "by eye", subjectively. That is, how many traders - so many variants of indicator settings for one and the same chart section.

In the framework of the impulse equilibrium theory this issue is completely solved - indicator settings are determined unambiguously at any moment of time (depending on the current dynamics).

 

I would like to see the implementation of displaying indicators from the lower TF on the higher one in the form of a bar with shadows!

PS: gifs in the article are of very low quality. Is it the originals or did the site cut them?

 
Aleksandr Masterskikh:

Thanks to the author for the article.

A multi-scale approach to analysis is absolutely the way to go.

However, within the framework of traditional technical, as well as wave and other types of analysis, the key question is not solved, namely:

Each trader determines the value of indicator settings "by eye", subjectively. That is, how many traders - so many variants of indicator settings for one and the same chart section.

In the framework of the impulse equilibrium theory this issue is completely solved - indicator settings are determined unambiguously at any moment of time (depending on the current dynamics).

link does not open

 
Andrey Khatimlianskii:

I would like to see more implementation of displaying indicators from the lower TF on the higher one in the form of a bar with shadows!

PS: gifs in the article are of very low quality. Is it the originals or did the site cut them?

The site does not cut the quality. I checked.
 
Roman Meskhidze:

link does not open

This link is not mine (automatically set by this site).

 
Aleksandr Masterskikh:

This link is not mine (automatically set by this site).

Can't you delete it?

 
Vitaly Muzichenko:

Can't you delete it?

So after sending a link is inserted, somehow immediately thought that it should be so). Otherwise, why would it be inserted - so that everyone could edit their message immediately after sending it?)
 
Andrey Khatimlianskii:

I would like to see more implementation of displaying indicators from the lower TF on the higher one in the form of a bar with shadows!



 
fxsaber:

I've seen that, but the idea is really quite different. For example, to make MA look like Heiken Ashi.

 
Vitaly Muzichenko:

Can't you delete it on faith?

I'm sure I don't need your advice!

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