RFT Indicators to Replace MTF Indicators
RTF MA Angle and RTF Snakeforce
Here are the additonal files referred to in my post above:
I do not believe the "Relative Time Frame" indicators below are anything new. However, I have not seen the idea anywhere before. I would like to share it and expand it with anyone who is interested.
The premise is simple:
Traders need to know what's happening on the higher timeframes.
Standard MTF indicators can only be used to plot a specific higher time period. So, if you trade a 30 minute chart, you can set the MTF indicator to plot on a 60 minute time frame.
Unfortunately, if you decide you want to look at the 60 minute chart, your MTF indicator will still plot 60 minute data. In short your MTF indicator becomes a current time frame indicator.
I like to trade 30, 60 and 240 and resettng the parameters of my MTF indicators was giving me a pain in the wrist - literally. (Think of all those mouse clicks: Trading 10 pairs and looking for trades on three time frames gives you 30 charts to configure, over and over again.)
So, I talked to a programmer and we came up with the idea of a "Relative Time Frame" indicator.
Instead of setting the indicator to plot 30 or 60 or 240, etc., you set it to plot 1 time frame higher, 2 time frames higher, etc.
Then no matter what time frame you want to trade the RTF indicator automatically shifts to the relative position of 1,2 or 3 time frames higher. All you have to do is click on the MT4 periodicity parameter you want and the chart and indicators shift relatively.
My programmer friend created the Bollinger Squeeze RTF indicator attached and then disappeared into cyberspace leaving me to figure out how to create the MA Angle, BB-MACD and Snakeforce RTF indicators all of which are also attached below.
I am new to this forum and I am finding it to be a breath of fresh air. And, there are many excellent MTF indicators that would be good candidates for RTF. My own coding skills, however, are not up to the level seen here.
If any of you like the idea and would like to expand or collaborate please get in touch.Hi Eianetti,
Welcome here and thanks for your idea and indicators, to make sure i am understanding this right, if you set the RTF to 1 then indicator will automatically go 1 timeframe higher than timeframe chart it is posted on.
BTW remember awhile back you were looking for mtf Awesome(think i'm remembering right) with alerts. Couldn't post it in public section, cause only way i knew how to do it was interpolated, so this may be another candidate for RTF.
You're correct on both counts
Thanks for the welcome.
You are correct. If you set the indicator's timeframe to "1" it will plot one timeframe higher than the chart. (Please remember both the original and RTF have to be in the indicators folder.)
I like to use the BBSqueeze indicator to show price expanding one and two times frames higher than the current time frame. So I set the BBSqueeze to TimeShift 1 and then add a second instance of the indicator set to TimeShift 2. Then I can move through my charts and timeframes easily.
The BBSqueeze template and an image are attached below.
I got interested in the "ssa squeeze of double jurik" last night and took a stab at that. I encountered a problem that I could not resolve and get the following error: "==" different types in comparison. I wonder if someone could look at it.
Yes, that was indeed me looking for the AO indicator. Thanks for doing that bit of work for me.
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I do not believe the "Relative Time Frame" indicators below are anything new. However, I have not seen the idea anywhere before. I would like to share it and expand it with anyone who is interested.
The premise is simple:
Traders need to know what's happening on the higher timeframes.
Standard MTF indicators can only be used to plot a specific higher time period. So, if you trade a 30 minute chart, you can set the MTF indicator to plot on a 60 minute time frame.
Unfortunately, if you decide you want to look at the 60 minute chart, your MTF indicator will still plot 60 minute data. In short your MTF indicator becomes a current time frame indicator.
I like to trade 30, 60 and 240 and resettng the parameters of my MTF indicators was giving me a pain in the wrist - literally. (Think of all those mouse clicks: Trading 10 pairs and looking for trades on three time frames gives you 30 charts to configure, over and over again.)
So, I talked to a programmer and we came up with the idea of a "Relative Time Frame" indicator.
Instead of setting the indicator to plot 30 or 60 or 240, etc., you set it to plot 1 time frame higher, 2 time frames higher, etc.
Then no matter what time frame you want to trade the RTF indicator automatically shifts to the relative position of 1,2 or 3 time frames higher. All you have to do is click on the MT4 periodicity parameter you want and the chart and indicators shift relatively.
My programmer friend created the Bollinger Squeeze RTF indicator attached and then disappeared into cyberspace leaving me to figure out how to create the MA Angle, BB-MACD and Snakeforce RTF indicators all of which are also attached below.
I am new to this forum and I am finding it to be a breath of fresh air. And, there are many excellent MTF indicators that would be good candidates for RTF. My own coding skills, however, are not up to the level seen here.
If any of you like the idea and would like to expand or collaborate please get in touch.