MT4 Multi-Timeframe Indicators
MT4 Multi-Timeframe indicators are indicators that are built using multi-timeframe (MTF) principle of scanning charts of several chosen periods at a time. If you prefer working with multi-timeframe indicators you would like to try some of those presented here.
What Does Multi-Timeframe Mean?
Multi-timeframe means that you can see the status of an indicator in a timeframe that is not the same as the chart you are looking at.
Normally, MetaTrader shows you the value of an indicator for the timeframe set on the current chart you have open.
With a multi-timeframe indicator, you can see the value of the underlying indicator for another timeframe.
For example, you are on an H1 chart of EUR/USD and you have stochastic indicator attached — it calculates the value of stochastic based on H1 candles.
But what if you want to know if the pair or asset is oversold or overbought in another timeframe without changing the chart?
A multi-timeframe indicator is the answer to this problem. It can show you the indicator status and value for any other timeframe.
Why Use Multi-Timeframe Indicators in MT4?
Checking an indicator in only one timeframe is usually very limiting. In fact, often, you might check an indicator in one timeframe only to later discover that the situation in a higher timeframe is much different.
For example, if you check RSI indicator on an M30 chart, you could see that the price is an oversold area. However, checking an H4 chart, you might see that the price is instead in an overbought area.
The ability to watch how an indicator is behaving in other timeframes from one place provides some advantages.
When entering or exiting a trade, it can be beneficial to have an idea of the overall situation of the currency pair or another asset.
MT4 Multi-Timeframe Indicators Downloads
On EarnForex.com, you will find eight multi-timeframe indicators. They are all free and you can choose to download them after following the links in this list:
- Supertrend Multi-Timeframe
- Moving Average Multi-Timeframe
- RSI Multi-Timeframe
- Stochastic Multi-Timeframe
- PSAR Multi-Timeframe
- MACD Multi-Timeframe
- Currency Strength Lines
- Currency Strength Matrix
These MTF implementations allow you to see indicators' status or values across all the selected timeframes on a single chart.
All the indicators include notification features to receive alerts when the indicators meet some conditions. This can help you both in analysis and in timely reactions to market events.
Moreover, all indicators are open-source, so you can implement your own modifications to their logic, tailoring them to your specific needs.