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Multi Time Frame (MTF) indicators pack one

Description

This package allows traders to insert indicators in a higher time frame, in a main chart with a lower time frame. For example, it is possible to show Bollinger Bands based on 60 minutes in a main chart with a time frame of 10 minutes. The indicators in the higher time frames can be used to identify the trend and other key information, the chart in the lower time frame is used to find ideal entry points.

The creator of the package is a company called Signalworks, wich is managed by Lutz Engelland. This company, which has been active for more than 10 years, develops professional strategies, indicators and tools for the NanoTrader platform. They are definitely not beginners.

Note: This package requires an effort to master. In exchange for this effort the trader can make very interesting combinations of charts and indicators in different time frames.

Note: The standard NanoTrader already has an aggregator function i.e. it can display and include in strategies indicators in time frames, which are different from the master chart. These indicators, however, are shown not in the main chart but below the main chart. The ability to show the indicators directly in the main chart is one of the key advantages of this pack.

Click here to buy the Multi Time Frame indicators pack in the store

Click here to test a free demo of the NanoTrader trading platform.

 

The MTF indicators in detail

A total of 25 multi time frame indicators are included in the package:

Averages (High|Low|Open|Close), Bollinger Bands, Donchian Channel, Double Exponential moving average, Double Stochastic, Exponential moving average, Exponential MACD, Fast Stochastic, Inside Bars (up to 5 aggregated Inside Bars), Ichimoku Kinko Hyo, Keltner Channel, Linear Regression Channel, Linear Regression, Simple MACD, Momentum, Outside Bars (up to 5 aggregated Outside Bars), Parabolic SAR, Relative Strength Index (RSI), Relative Strength Levy (RSL), Simple Moving Average, Slow Stochastic, Stochastic Momentum, Stochastic RSI and SuperTrend.

For any of these indicators the trader can apply a time frame equal or higher than the time frame of the main chart. It is not possible to choose a lower time frame than the main chart.

This example shows a 10-minute chart on the DAX. The SuperTrend indicator is based on a 60-minute time frame.

Signalworks

This example shows a 5-minute chart on the DOW. The Bollinger Bands are based on a 15-minute time frame.

Signalworks


How to set a Multi Time Frame indicator?

Every MTF indicator comes with a set of parameters that the trader must understand in order to set his indicator correctly. The parameters are divided into two categories:

  1. Indicator parameters (green box)
  2. Multi time frame parameters (red box)

This example shows the parameters for a moving average.

Signalworks

The indicator parameters are:

  • MTF_SMA.Period: The number of periods the moving average is calculated on.
  • PLOT_MTF.SMA: Activate (=1) or deactivate (=0) the moving average in the chart

The multi time frame parameters are:

  • MODE.Plugin: Specify if you want to use the moving average as an indicator (=0), a sentimentor (=1-4) or a filter (5-8). A filter filters signals. A sentimentor can be used for executing signals and (semi-)automated orders. Tip: click on the parameter in the Designer dialogue to see the details of each choice in the description area (the selection and number of sentimentor and filter functions are optional and different for each tool and can be expanded upon request).

Signalworks

  • MTF_Mode.Calc: Choose between time-based (=1) or period-based (=0) for the MTF indicator. Time-based: the trader specifies the higher time frame on which the indicator must be calculated. Period-based: the trader specifies the number of periods from the master chart’s timeframe which must be aggregated to calculate the indicator (i.e. if the master chart is set to 10 minutes and the traders specifies 6, then the MTF indicator is calculated over 60 minutes = 6 * 10 minutes).
  • Set the time frame or the periods of your choice in the MTF_Agg.Value field.
  • MTF_Agg.Type: Choose the time frame needed for the MTF indicator. (0 = Day, 1 = Week, 2 = Month, 3 = Intraday).


Example 1: The trader wants to a 5-minute chart with a Simple Moving Average which is calculated based on a 60-minute time frame. These are the correct settings:

MODE.Plugin = 0 (= indicator)
MTF_Mode_Calc = 1 (=time based)
MTF_Agg.Type = 3 (= intraday)
MTF_Agg.Value = 60 ( = 60 minutes)

Signalworks


Example 2: The trader wants to use a Daily chart with a SuperTrend which is calculated based on a Weekly chart. These are the correct settings:

MODE.Plugin = 0 (= indicator)
MTF_Mode_Calc = 1 (=time based)
MTF_Agg.Type = 1 (= Week)
MTF_Agg.Value = 1 ( = 1 Week)

Lutz Engelland


Example 3: The trader wants to use a Renko Chart with an Exponential Moving Average (10) which is aggregated over 5-periods which means the MasterChart aggregation is summarized 5 times to make up the new aggregation for the indicator. These are the correct settings:

MODE.Plugin = 0 (= indicator)
MTF_Mode_Calc = 0 (=period based)
MTF_Agg.Type = 3 (= Intraday aggregation)
MTF_Agg.Value = 5 ( = EMA-10 aggregated over 10 blocks of 5 bars)

Signalworks Lutz Engelland

Click here to buy the Multi Time Frame indicators pack in the store

 

Practical implementation

  • Select the financial instrument you want to trade and open the chart.
  • In the „Indicators“ folder, goto WHS Store, Signalworks and select the indicator you want to use:
  • Select your paper account or your real account.
  • NanoTrader Full. If you want to trade semi-automatically (open position manually, close position automatically), activate TradeGuard+AutoOrder in the chart. If you want to trade automatically, activate AutoOrder in the chart.

Click here to buy the Multi Time Frame indicators pack in the store