MTF_MegaTrend_Bar_4TFNextM8

Download script
Author: Copyright � 2006, Eli hayun
MTF_MegaTrend_Bar_4TFNextM8

This script is designed to provide a comprehensive visual overview of market trends by simultaneously tracking four different timeframes on a single chart. Instead of forcing you to switch back and forth between different tabs or windows to see the "big picture," it consolidates that information into one dedicated display window.

Core Functionality

Multi-Timeframe Analysis The primary purpose of this tool is to analyze the market across four distinct layers of time (such as Minutes, Hours, Days, and Weeks). By viewing these different perspectives at once, a trader can identify if the short-term price movement aligns with the long-term trend—a technique often used to filter out "noise" and find high-probability entries.

Automated Timeframe Selection The script features an intelligent "Auto Display" logic. Based on the timeframe you are currently viewing, it automatically selects four logical secondary timeframes for you. For example, if you are looking at a 1-hour chart, it will intelligently choose the most relevant surrounding periods to display so that the data remains contextually useful.

Trend Visuals (The "MegaTrend" Connection) The logic relies on an external calculation called the "MegaTrend." It looks at the price action of those four different timeframes and translates the results into visual markers:

  • Upward Trends: Represented by blue markers.
  • Downward Trends: Represented by red markers.

Visual Presentation

To keep the data from looking cluttered or overlapping, the script organizes the information in a structured way:

  • Layered Stacking: It places the four different timeframes on separate horizontal levels within the indicator window.
  • Clear Labeling: It automatically generates text labels (e.g., "H1", "D1", etc.) so you know exactly which row corresponds to which timeframe.
  • Gap Management: It uses a specific spacing logic to ensure there is enough room between each timeframe's data points, making it easy to read at a glance.

Summary for the User

Think of this tool as a "Trend Dashboard." While your main chart shows you the immediate price action, this script provides a summary of the environment. If all four rows are showing blue markers, it signifies a strong multi-timeframe bullish trend; if they are mixed, it tells you that the market is in a state of transition or conflict between different time horizons.

Miscellaneous
Implements a curve of type %1
14 Views
0 Downloads
0 Favorites
MTF_MegaTrend_Bar_4TFNextM8 
//+------------------------------------------------------------------+
//| MTF_MegaTrend_Bar_4TFNextM2 from STEINITZ lee_yan_cn mod N4TF HAS Bar.mq4 |
//|                  Modified by Matsu, from #MTF Supertrend Bar.mq4 |
//|    Forex-TSD.com                     Copyright © 2006, Eli hayun |
//|                                          http://www.elihayun.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Eli hayun"
#property link      "http://www.elihayun.com"

#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 5
#property indicator_buffers 8
#property indicator_color1 Red
#property indicator_color2 Blue
#property indicator_color3 Red
#property indicator_color4 Blue
#property indicator_color5 Red
#property indicator_color6 Blue
#property indicator_color7 Red
#property indicator_color8 Blue

//---- parameters
extern int period = 15;
extern int method  = 3;
extern int price = 0;
//extern int MaMetod2  = 3;
//extern int MaPeriod2 = 2;
extern int BarWidth = 0;
extern color BarColorUp = Blue;
extern color BarColorDown = Red;
extern color TextColor = SlateGray;

extern int Period_1 = PERIOD_H1;
extern int Period_2 = PERIOD_H4;
extern int Period_3 = PERIOD_D1;
extern int Period_4 = PERIOD_W1;
extern bool AutoDisplay      = true;
extern int UniqueNum = 2285;

extern int MaxBars=500;

double Gap = 1; // Gap between the lines of bars
//---- buffers
double buf4_up[];
double buf4_down[];
double buf3_up[];
double buf3_down[];
double buf2_up[];
double buf2_down[];
double buf1_up[];
double buf1_down[];
//double haOpen;
//double haClose;
double haOpenN;
double haCloseN;


string shortname;


int ArrSize = 110;//159;
//int Period_1, Period_2, Period_3, Period_4;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
  
  
   SetIndexStyle(0,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(0,ArrSize);
   SetIndexBuffer(0,buf1_up);
   SetIndexEmptyValue(0,0.0);
   SetIndexStyle(1,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(1,ArrSize);
   SetIndexBuffer(1,buf1_down);
   SetIndexEmptyValue(1,0.0);
   SetIndexStyle(2,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(2,ArrSize);
   SetIndexBuffer(2,buf2_up);
   SetIndexEmptyValue(2,0.0);
   SetIndexStyle(3,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(3,ArrSize);
   SetIndexBuffer(3,buf2_down);
   SetIndexEmptyValue(3,0.0);
   SetIndexStyle(4,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(4,ArrSize);
   SetIndexBuffer(4,buf3_up);
   SetIndexEmptyValue(4,0.0);
   SetIndexStyle(5,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(5,ArrSize);
   SetIndexBuffer(5,buf3_down);
   SetIndexEmptyValue(5,0.0);
   SetIndexStyle(6,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(6,ArrSize);
   SetIndexBuffer(6,buf4_up);
   SetIndexEmptyValue(6,0.0);
   SetIndexStyle(7,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(7,ArrSize);
   SetIndexBuffer(7,buf4_down);
   SetIndexEmptyValue(7,0.0);
   
   SetIndexLabel(0,NULL);
   SetIndexLabel(1,NULL);
   SetIndexLabel(2,NULL);
   SetIndexLabel(3,NULL);
   SetIndexLabel(4,NULL);
   SetIndexLabel(5,NULL);
   SetIndexLabel(6,NULL);
   SetIndexLabel(7,NULL);
   
   IndicatorDigits(0);
   getPeriod();
   
   shortname = "4TF_MT "+UniqueNum;
   IndicatorShortName(shortname);
   
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {

   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+




int start()
  {
   int counted_bars=IndicatorCounted();
   //---- check for possible errors
   if(counted_bars<0) return(-1);
   //---- the last counted bar will be recounted
   if(counted_bars>0) counted_bars--;
   int  limit=MathMax(Bars-counted_bars,Period_1/Period());     
        limit=MathMax(            limit,Period_2/Period());   
        limit=MathMax(            limit,Period_3/Period());  
        limit=MathMax(            limit,Period_4/Period());  
   int i,tf;

   //-------------------------------1----------------------------------------   
   double dif = Time[0] - Time[1];
   for ( i=ObjectsTotal()-1; i>-1; i--)
      {
         if (StringFind(ObjectName(i),"FF_"+shortname) >= 0)  ObjectDelete(ObjectName(i));
      }
      
   double shift = 0.2;
   for ( tf=1; tf<=4; tf++)
      {  
         string txt = "??";
         double gp;
         switch (tf)
         {
            case 1: txt = tf2txt(Period_1);  gp = 1 + shift; break;
            case 2: txt = tf2txt(Period_2);  gp = 1 + Gap + shift; break;
            case 3: txt = tf2txt(Period_3);  gp = 1 + Gap*2 + shift; break;
            case 4: txt = tf2txt(Period_4);  gp = 1 + Gap*3 + shift; break;
         }
         string name = "FF_"+shortname+" "+tf+"_" +txt;        //Forex Freedom Bars, Eli
         ObjectCreate(name, OBJ_TEXT, WindowFind(shortname), iTime(NULL,0,0)+dif*3, gp);
         ObjectSetText(name, txt,7,"Arial", TextColor);
      }
   
   
   
   //-------------------------------2----------------------------------------
   datetime TimeArray_4[], TimeArray_3[], TimeArray_2[], TimeArray_1[];
   ArrayCopySeries(TimeArray_1,MODE_TIME,Symbol(),Period_1);
   ArrayCopySeries(TimeArray_2,MODE_TIME,Symbol(),Period_2);
   ArrayCopySeries(TimeArray_3,MODE_TIME,Symbol(),Period_3); 
   ArrayCopySeries(TimeArray_4,MODE_TIME,Symbol(),Period_4);
   
   int  i1=0, i2=0, i3=0, i4=0, yy;

   for(i=0, i1=0,  i2=0,  i3=0,  i4=0;i<limit;i++)
   {
      if (Time[i]<TimeArray_1[i1]) i1++;
      if (Time[i]<TimeArray_2[i2]) i2++;
      if (Time[i]<TimeArray_3[i3]) i3++;
      if (Time[i]<TimeArray_4[i4]) i4++;

      for ( tf = 1; tf <= 4; tf++)
      {
         int prd;
         switch (tf)
         {
            case 1: prd = Period_1; yy = i1;  break;
            case 2: prd = Period_2; yy = i2;  break;
            case 3: prd = Period_3; yy = i3;   break;
            case 4: prd = Period_4; yy = i4;   break;
         }
      
         haOpenN  = iCustom(NULL,prd,"MegaTrend",period,method,price,2,yy+1) ;
         haCloseN = iCustom(NULL,prd,"MegaTrend",period,method,price,2,yy) ;
            
         switch (tf)
         {  case 1: buf4_down[i]=EMPTY_VALUE;buf4_up[i]=EMPTY_VALUE; if (haOpenN>=haCloseN)  buf4_down[i] = 1;           else buf4_up[i] = 1;           break;
            case 2: buf3_down[i]=EMPTY_VALUE;buf3_up[i]=EMPTY_VALUE; if (haOpenN>=haCloseN)  buf3_down[i] = 1 + Gap * 1; else buf3_up[i] = 1 + Gap * 1; break;
            case 3: buf2_down[i]=EMPTY_VALUE;buf2_up[i]=EMPTY_VALUE; if (haOpenN>=haCloseN)  buf2_down[i] = 1 + Gap * 2; else buf2_up[i] = 1 + Gap * 2; break;
            case 4: buf1_down[i]=EMPTY_VALUE;buf1_up[i]=EMPTY_VALUE; if (haOpenN>=haCloseN)  buf1_down[i] = 1 + Gap * 3; else buf1_up[i] = 1 + Gap * 3; break;
         }
      }
   }

   return(0);
  }
  
  
  
//+------------------------------------------------------------------+
void getPeriod()
{
   if (AutoDisplay)
   switch(Period()) 
      {
         case 1: 
            Period_1=1; Period_2=5; Period_3=15; Period_4=30;
            break;
         case 5: 
            Period_1=5; Period_2=15; Period_3=30; Period_4=60;
            break;
         case 15: 
            Period_1=15; Period_2=30; Period_3=60; Period_4=240;
            break;
         case 30: 
            Period_1=30; Period_2=60; Period_3=240; Period_4=1440;
            break;
         case 60: 
            Period_1=60; Period_2=240; Period_3=1440; Period_4=10080;
            break;
         case 240: 
            Period_1=240; Period_2=1440; Period_3=10080; Period_4=43200;
            break;
         case 1440: 
            Period_1=1440; Period_2=10080; Period_3=43200; Period_4=43200;
            break;
         case 10080: 
            Period_1=10080; Period_2=43200; Period_3=43200; Period_4=43200;
            break;
         case 43200: 
            Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
            break;
         
      }
}

string tf2txt(int tf)
{
   if (tf == PERIOD_M1)    return("M1");
   if (tf == PERIOD_M5)    return("M5");
   if (tf == PERIOD_M15)   return("M15");
   if (tf == PERIOD_M30)   return("M30");
   if (tf == PERIOD_H1)    return("H1");
   if (tf == PERIOD_H4)    return("H4");
   if (tf == PERIOD_D1)    return("D1");
   if (tf == PERIOD_W1)    return("W1");
   if (tf == PERIOD_MN1)   return("MN");
  
   
//+-------------
    
   return("??");
}

Dependencies

MegaTrend

This indicator identifies market direction by calculating the moving average of a second-order differential vector derived from weighted price momentum.

Similar scripts

MTF_MegaTrend_Bar_4TFNextM8_autoOff

This indicator aggregates sentiment from four concurrent higher timeframes by plotting visual signals based on the MegaTrend trend status to identify overarching market momentum.

MTF_MegaTrend_Bar_4TFNextM7

This indicator synchronizes and visualizes directional trends across four distinct timeframes simultaneously by aggregating data from the MegaTrend algorithm.

SR_Barry_Eli_MTF

This indicator projects historical fractal high and low price levels from multiple concurrent timeframes onto a single chart to identify key structural support and resistance zones.

SR_Barry_Eli_MTF_ammended

This indicator projects synchronized fractal high and low levels from multiple higher timeframes onto the current chart to identify structural support and resistance zones.

Multi pair EMA angle zero + mtf

DTosc_yb_mtf_

Multi pair Stochastic mtf

TVI_v2

XO with Alert

This indicator identifies dynamic trend reversals by monitoring sequential price breaches beyond a variable volatility-based threshold to capture momentum shifts.

_2523MTF SR

This indicator projects high and low fractal pivot points from four distinct timeframes onto the current chart to identify multi-layered structural support and resistance levels.

All_Stars

Comments