Supertrend Multi-Timeframe (MTF) Indicator for MT4
Contents
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.
What Is Supertrend Multi-Timeframe Indicator for MT4?
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.
Why Using Supertrend Multi-Timeframe Indicator for MetaTrader?
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
Selection of Timeframes
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.
Selection of Sensitivity
You can set the multiplier for Supertrend line to make it more or less sensitive to the volatility of the price.
Notification Alerts
You can set options to be notified when a trending condition is met.
Downloads
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.
➥ Download MQLTA MT4 Supertrend Multi-TimeframeMT4 Indicator Installation Instructions
To install the MT4 Supertrend Multi-Timeframe indicator, please follow the instructions below:
- Download the indicator archive file.
- Open the MetaTrader 4 data folder (via File→Open Data Folder).
- Open the MQL4 Folder.
- Copy all the folders from the archive directly to the MQL4 folder.
- Restart MetaTrader 4 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.
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.
Discussion
Do you have any suggestions or questions regarding this indicator? You can always discuss Supertrend Multi-Timeframe with the other FX traders and MQL programmers on the indicators forums.
Changelog
1.10 — 2021-08-26
- Revised the alert system to make more concise and timely.
- Removed unnecessary input parameters to reduce confusion.
- Reduced object processing overhead, which could cause excessive consumption of computer resources.
- Pruned the source code to make the indicator lighter and future development easier.
