MTF_MegaTrend_Bar_4TFNextM8_autoOff

Download script
Author: Copyright � 2006, Eli hayun
MTF_MegaTrend_Bar_4TFNextM8_autoOff

This script is designed to provide a multi-timeframe visual overview of market trends within a single indicator window. Instead of looking at just one chart timeframe, it allows a trader to see the "health" of the market across four different timeframes simultaneously.

Core Logic and Functionality

Multi-Timeframe Analysis The primary purpose of this script is to pull data from four distinct timeframes (for example: 1-Hour, 4-Hour, Daily, and Weekly) and display them in one place. This helps traders identify if the current price action aligns with the broader trend or if there is a conflict between short-term movements and long-term trends.

Trend Detection (MegaTrend Integration) The logic relies on an external "MegaTrend" calculation. For each of the four timeframes, the script looks at specific price points to determine the current direction.

  • If the trend is Bullish (Upward), the script assigns a value representing an "Up" signal.
  • If the trend is Bearish (Downward), it assigns a value representing a "Down" signal.

Visual Representation To keep the data organized and easy to read, the script uses the following visual methods:

  • Color-Coded Markers: It places specific symbols (arrows/bars) on a separate window. Blue typically represents upward trends, while Red represents downward trends.
  • Vertical Stacking: To prevent the signals from overlapping and becoming messy, the script "stacks" the different timeframes. Each timeframe is assigned a unique vertical level (using a "Gap" setting). This creates a clean ladder of information where you can see all four trends lined up vertically.
  • Dynamic Labeling: The script automatically identifies and labels which row belongs to which timeframe (e.g., "H1", "D1", etc.), ensuring the user knows exactly which trend they are looking at without having to guess.

Automation Features The script includes an "AutoDisplay" logic. If enabled, it can automatically detect the timeframe of your current chart and select a logical set of four higher timeframes to display. This saves the user from having to manually configure the settings every time they switch between different types of charts.

Summary for the User

Think of this tool as a "Trend Dashboard." While your main chart shows you the immediate price action, this indicator provides a vertical snapshot of the market's momentum across multiple horizons. It allows you to see at a glance whether the Daily and Weekly trends are supporting your current trade or if you are trading against a stronger global move.

Miscellaneous
Implements a curve of type %1
10 Views
0 Downloads
0 Favorites
MTF_MegaTrend_Bar_4TFNextM8_autoOff 
//+------------------------------------------------------------------+
//| 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      = false;
extern int UniqueNum = 2286;

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

This indicator synchronizes trend directionality across four distinct multi-timeframe dimensions by plotting comparative MegaTrend signal states into a unified visual bar system.

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