You may already know what a Supertrend indicator is, how it works and some of its weaknesses. Supertrend Multi-Timeframe (MTF) indicator for MT4 aims to improve on Supertrend Line indicator by taking into consideration the trend in multiple timeframes.
You should already know what Supertrend Line indicator for MetaTrader is. However, if you don't know, Supertrend is an indicator that shows you the main trend of a pair. The trend takes into consideration volatility, in the form of ATR, and price.
One of the disadvantages of Supertrend indicator is that it can provide false signals. This is especially true when the market is ranging.
Supertrend Multi-Timeframe indicator for MT4 tries to minimize such false signals. It is a combination of Supertrend indicators in different timeframes.
Thanks to this combination, you can see Supertrend status across all the selected timeframes in a single place.
Checking the trend on only one chart can lead to a limited understanding of the overall trend.
For example, if you check Supertrend values of the EUR/USD currency pair on an M30 chart, it might signal an uptrend.
However, once you check Supertrend of the same pair on an H4 chart, it could be in a major downtrend.
Watching Supertrend for several timeframes can provide a strategic overview. It it can give you a better idea of the overall trend.
Supertrend Multi-Timeframe (MTF) can help you make better decisions as trending conditions for each timeframe are clearly visualized in an easy-to-read table.
Supertrend Multi-Timeframe indicator is very easy to use and read and it has only a few parameters to set. Below are listed some of its features
In Supertrend Multi-Timeframe, you can select which timeframes to consider — you can enable and disable them to just see the ones of your interest.
You can set the multiplier for Supertrend line to make it more or less sensitive to the volatility of the price.
You can set options to be notified when a trending condition is met.
You can download for free MT4 Supertrend Multi-Timeframe indicator with the link below and install it by following the provided instructions.
The installation is very easy to perform, so is the use.
Once you run the indicator, you can set Supertrend parameters, select timeframes, and configure alerts via its input parameters.
To install the MT4 Supertrend Multi-Timeframe indicator, please follow the instructions below:
For a more detailed instruction on how to perform the installation and a tutorial video please visit this page.
If you like trend following strategies, then Supertrend Multi-Timeframe indicator for MT4 can be really useful. Try using it and decide if integrating it in your strategies is worthwhile.
You can open a trading account with any of the MT4 Forex brokers to freely use the indicator for MetaTrader 4 presented here.
If you would like to see other multi-timeframe indicators, you can read our guide on MTF indicators.