MT4: Multi Timeframe Price Action Tool (no indicators!)

YourFriend0

Trader
Jan 3, 2018
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Hi,

Would like to politely ask if someone could please help me with my disaster situation...

After losing around 99.8% of my balance, that equals basically almost my entire life savings (5+ years of 60 full monthly salaries), i am struggling to find failures what i have been doing wrong. What caused such disaster and what basically destroyed my life. Been trying to sell my soul to get some valuable knowledge and i think i may have found one major problem in my loss. The answer is: lack of multi timeframe analysis. I was doing my entire work on D1 charts only but didn't pay, at least not enough, attention to H4, H1, perhaps even M30 charts. Therefore the problem, one out of many, is that i saw the situation too widely and not with enough ''zoom'' (low enough timeframes).

Now i am in the process of learning as much as possible about multi timeframe analysis WITHOUT usage of any indicators. So price action only.

Since i don't have any money left, i am unable to pay to MT4 developer for what i need. So i am asking you if someone could please tell me whether Multi Timeframe MT4 tool exist that would look like this (including the following features):

1. i choose which timeframes to track
2. possibility of alerts (screen window pop up, sound)
3. requirement that candle gets closed (fully forms) otherwise uptrend/downtrend candle cannot be accurately recognized.

The tool would alert me if either of the following two situations happen:

Situation 1: Candle (the most recent one that fully forms) is in same body color on all enabled timeframes (obviously same symbol). This shows me in real time same direction of a trend in going on, on all enabled timeframes.

or/and

Situation 2: lower timeframe must cointain same direction higher highs, higher lows (for uptrend) or lower highs, lower lows (for downtrend) in same quantity of candle matching time period on higher time frame. This must happen, obviously with different quantity of candles, on all enabled timeframes. Example: lets say D1 got red ( * ) candle formed that just got closed. D1 is one day so equals 6 candles on H4 (4*6=24). I would obviously be missing good trade opportunities if i required all candles (6) on one step lower time frame (one step from D1 is H4) to be in the same color as single, just closed, candle on one step higher time frame (D1). So to avoid this, the 6 candles would just need to have 6 successive candles, regardless of color of their bodies, with lower lows and lower highs ( * ) to prove the downtrend ( * ) as on D1. Similar situation (24 candles) on H1 timeframe.

Particularly for Situation 1 i am talking about something like this:

https://scorpionfx.com/indicators/ (kindly scroll down to "Trend Finder Monitors All Pairs And TFs" and please click the picture, you will have 7 pictures available)

but i cannot use this due to four reasons:

a) i lost all the money i had minus 0.2% that is still on my trading account. Everything i worked for is lost. Unable to pay even food, surely unable to pay the tool or developer.

b) tool somehow includes indicator. It doesn't matter which and how but it does. I want NO indicators.

c) no feature to enable/disable wanted/unwanted timeframes.

d) there seems to be restrictions on which currency pair tool work while i want it to work on every currency pair, even most exotic ones that are barely provided by any broker at all.

I have been searching a lot to find some tool via google but most of them don't have alerts. Also as soon as i had seen on webpage name of any indicator, i immediately closed the webpage. Not sure if i am allowed to mention other forex forum (may be against the rules of your forum) but on one other forum are several posts about multi timeframe tools but nothing is really useful.

I deeply apologize for bringing sadness to this forum but you can imagine how i feel after losing basically everything i worked for, for years...

Please if anyone know any tool for multi timeframe analysis (situation 1 or 2, preferable both) kindly let me know.

Thank you a million times.
 
Apr 6, 2019
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Well, i find the trend dash informative about the trend across time-frames in one screen.You consider a strong trend having at-least three bars going in one direction you need at-least 5 bars that is in the time frame of choice and the next time frame to consider a strong trend. I hope it helps. So sorry about your losses but provides useful information about what not to do. I still respect the positive mindset of still moving on.'Everyone faces defeat.It may be a stepping stone or a stumbling block depending on the mental attitude with which it is faced'Napoleon Hill
 

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Enivid

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Situation 2: lower timeframe must cointain same direction higher highs, higher lows (for uptrend) or lower highs, lower lows (for downtrend) in same quantity of candle matching time period on higher time frame. This must happen, obviously with different quantity of candles, on all enabled timeframes. Example: lets say D1 got red ( * ) candle formed that just got closed. D1 is one day so equals 6 candles on H4 (4*6=24). I would obviously be missing good trade opportunities if i required all candles (6) on one step lower time frame (one step from D1 is H4) to be in the same color as single, just closed, candle on one step higher time frame (D1). So to avoid this, the 6 candles would just need to have 6 successive candles, regardless of color of their bodies, with lower lows and lower highs ( * ) to prove the downtrend ( * ) as on D1. Similar situation (24 candles) on H1 timeframe.
This needs some more clarification:
1. If we want to display a Bullish or Bearish signal for D1, we check latest closed D1 direction, then we check six latest closed candles on H4 whether they are all HHHL or LLLH candles. Is that enough to display a signal for D1 or do we then need to check 24 H1 candles, and then 48 M30 candles, and then 96 M15 candles, and then 288 M5 candles, and then 1440 M1 candles and they all need to be HHHL or LLLH for D1 signal to appear?
2. What do we do with partial days? Some platforms/instruments have Saturday/Sunday daily sessions which may contain just 2-3 hours of trading. Do we still check six H4 candles for them?
3. For MN1, we check four W1 candles? They will rarely contain the same days as the MN1 candle would.