#MTF_SuperTrendBar

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Author: Copyright � 2006, Eli hayun
#MTF_SuperTrendBar

Overview

The MTF Supertrend Bar is a specialized trading indicator designed to provide a multi-layered perspective on market trends. Unlike standard indicators that only show data for the specific timeframe you are currently viewing, this script analyzes four different timeframes simultaneously. It visualizes these concurrent trends as distinct rows of markers in a separate window at the bottom of your chart.

Core Logic and Functionality

1. Multi-Timeframe Analysis

The primary logic of this script is its ability to "look ahead" into higher timeframes while you are trading on a lower one. It calculates market conditions for four distinct periods at once. For example, if you are looking at a 5-minute chart, the indicator can simultaneously track the trend for the 15-minute, 30-minute, 1-hour, and 4-hour charts.

2. Trend Detection Mechanism

The script uses a technical momentum oscillator (CCI) as its underlying engine to determine whether the market is in an "Up" or "Down" state for each of the four timeframes:

  • Bearish Sentiment: If the calculation falls below a specific threshold, it identifies a downward trend.
  • Bullish Sentiment: If the calculation remains above that threshold, it identifies an upward trend.

3. Visual Representation

Instead of drawing complex lines on your price chart (which can often become cluttered), this script uses a "Bar" or "Arrow" system in a dedicated sub-window:

  • Stacked Rows: The indicator displays four horizontal rows. Each row represents one of the four timeframes.
  • Spacing: A customizable "Gap" setting ensures that the rows are clearly separated, making it easy to distinguish which row belongs to which timeframe.
  • Color Coding: It uses distinct colors (Red and Blue) to instantly signal whether each timeframe is currently trending up or down.

4. Smart Automation Features

The script includes an "AutoDisplay" mode designed for convenience. Depending on the timeframe you have selected on your main chart, the script automatically adjusts the four analyzed periods to provide a logical sequence. For instance:

  • If you are on a Daily chart, it will automatically show the trends for the 1-hour, 4-hour, Daily, and Weekly charts.
  • If you are on a 5-minute chart, it will automatically scale down to show the 15-minute, 30-minute, 1-hour, and 4-hour trends.

Summary for the Trader

This tool is designed to give you a "big picture" view of the market. By glancing at the indicator window, you can see if the short-term trend aligns with the long-term trend. It allows you to quickly identify whether multiple timeframes are in agreement (confluence), helping to filter out "noise" and potentially providing clearer signals for your trading decisions.

Indicators Used
Commodity channel index
Miscellaneous
Implements a curve of type %1
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#MTF_SuperTrendBar 
//+------------------------------------------------------------------+
//|                                          #MTF Supertrend Bar.mq4 |
//|                                      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 -1
//#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
//---- 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[];

extern double Gap = 1; // Gap between the lines of bars

extern int Period_1 = PERIOD_M15;
extern int Period_2 = PERIOD_M30;
extern int Period_3 = PERIOD_H1;
extern int Period_4 = PERIOD_H4;

extern bool AutoDisplay      = false;

string shortname = "";
bool firstTime = true;

int UniqueNum = 228;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
  
  
   SetAutoDisplay();
   
  
   shortname = "# Forex Freedom("+Period_1+","+Period_2+","+Period_3+","+Period_4+")";
   firstTime = true;
   
   IndicatorShortName(shortname);
//---- indicators
   SetIndexStyle(0,DRAW_ARROW);
   SetIndexArrow(0,110);
   SetIndexBuffer(0,buf4_up);
   SetIndexEmptyValue(0,0.0);
   SetIndexStyle(1,DRAW_ARROW);
   SetIndexArrow(1,110);
   SetIndexBuffer(1,buf4_down);
   SetIndexEmptyValue(1,0.0);
   SetIndexStyle(2,DRAW_ARROW);
   SetIndexArrow(2,110);
   SetIndexBuffer(2,buf3_up);
   SetIndexEmptyValue(2,0.0);
   SetIndexStyle(3,DRAW_ARROW);
   SetIndexArrow(3,110);
   SetIndexBuffer(3,buf3_down);
   SetIndexEmptyValue(3,0.0);
   SetIndexStyle(4,DRAW_ARROW);
   SetIndexArrow(4,110);
   SetIndexBuffer(4,buf2_up);
   SetIndexEmptyValue(4,0.0);
   SetIndexStyle(5,DRAW_ARROW);
   SetIndexArrow(5,110);
   SetIndexBuffer(5,buf2_down);
   SetIndexEmptyValue(5,0.0);
   SetIndexStyle(6,DRAW_ARROW);
   SetIndexArrow(6,110);
   SetIndexBuffer(6,buf1_up);
   SetIndexEmptyValue(6,0.0);
   SetIndexStyle(7,DRAW_ARROW);
   SetIndexArrow(7,110);
   SetIndexBuffer(7,buf1_down);
   SetIndexEmptyValue(7,0.0);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   SetAutoDisplay();
   
   shortname = "# Forex Freedom("+Period_1+","+Period_2+","+Period_3+","+Period_4+")";
   firstTime = true;
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int    counted_bars=IndicatorCounted();
   int i=0, y15m=0, y4h=0, y1h=0, y30m=0, yy;
   int limit=Bars-counted_bars;

   datetime TimeArray_4H[], TimeArray_1H[], TimeArray_30M[], 
TimeArray_15M[];
//----

   
   
   if (firstTime || NewBar())
   {
      firstTime = false;
      int win = UniqueNum; // WindowFind(shortname);
      double dif = Time[0] - Time[1];
      for (int ii=ObjectsTotal()-1; ii>-1; ii--)
      {
         if (StringFind(ObjectName(ii),"FF_"+win+"_") >= 0)
            ObjectDelete(ObjectName(ii));
         else 
            ii=-1;
      }
      
      double shift = 0.2;
      for (ii=0; ii<4; ii++)
      {  
         string txt = "??";
         double gp;
         switch (ii)
         {
            case 0: txt = tf2txt(Period_1);  gp = 1 + shift;         
break;
            case 1: txt = tf2txt(Period_2);  gp = 1 + Gap + shift;   
break;
            case 2: txt = tf2txt(Period_3);  gp = 1 + Gap*2 + shift; 
break;
            case 3: txt = tf2txt(Period_4);  gp = 1 + Gap*3 + shift; 
break;
         }
         string name = "FF_"+win+"_"+ii+"_"+txt;
         ObjectCreate(name, OBJ_TEXT, WindowFind(shortname), 
iTime(NULL,0,0)+dif*3, gp);
         ObjectSetText(name, txt,8,"Arial", Black);
      }
   }
   
   ArrayCopySeries(TimeArray_4H,MODE_TIME,Symbol(),Period_4); 
   ArrayCopySeries(TimeArray_1H,MODE_TIME,Symbol(),Period_3); 
   ArrayCopySeries(TimeArray_30M,MODE_TIME,Symbol(),Period_2);
   ArrayCopySeries(TimeArray_15M,MODE_TIME,Symbol(),Period_1); 
      
   for(i=0, y15m=0,  y4h=0,  y1h=0,  y30m=0;i<limit;i++)
   {
      if (Time[i]<TimeArray_15M[y15m]) y15m++;
      if (Time[i]<TimeArray_4H[y4h])   y4h++;
      if (Time[i]<TimeArray_1H[y1h])   y1h++;
      if (Time[i]<TimeArray_30M[y30m]) y30m++;

      for (int tf = 0; tf < 4; tf++)
      {
         int prd;
         switch (tf)
         {
            case 0: prd = Period_1; yy = y15m;  break;
            case 1: prd = Period_2; yy = y30m;  break;
            case 2: prd = Period_3;  yy = y1h;   break;
            case 3: prd = Period_4;  yy = y4h;   break;
         }
         
         double cci = iCCI(NULL, prd, 50,PRICE_TYPICAL, yy);
         double dUp = EMPTY_VALUE; //   iCustom(NULL, prd, "SuperTrend", false, 1, yy);
         double dDn = EMPTY_VALUE; //iCustom(NULL, prd, "SuperTrend", false, 0, yy);
         
         if (cci < 0) dUp = 1; else dDn = 1;
         
         switch (tf)
         {
            case 0: if (dUp == EMPTY_VALUE)  buf1_down[i] = 1;           
else buf1_up[i] = 1; break;
            case 1: if (dUp == EMPTY_VALUE)  buf2_down[i] = 1 + Gap * 
1; else buf2_up[i] = 1 + Gap * 1; break;
            case 2: if (dUp == EMPTY_VALUE)  buf3_down[i]  = 1 + Gap * 
2; else buf3_up[i]  = 1 + Gap * 2; break;
            case 3: if (dUp == EMPTY_VALUE)  buf4_down[i]  = 1  + Gap * 
3; else buf4_up[i]  = 1 + Gap * 3; break;
         }
         
         
      }


   }

   return(0);
  }
//+------------------------------------------------------------------+

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("MN1");
   
   return("??");
}

void SetValues(int p1, int p2, int p3, int p4)
{
   Period_1 = p1;   Period_2 = p2; Period_3 = p3; Period_4 = p4; 
}


void SetAutoDisplay()
{
   if (AutoDisplay)
   {
      switch (Period())
      {
         case PERIOD_M1  :  SetValues(PERIOD_M1,  PERIOD_M5, 
PERIOD_M15,PERIOD_M30); break;
         case PERIOD_M5  :  SetValues(PERIOD_M5,  
PERIOD_M15,PERIOD_M30,PERIOD_H1); break;
         case PERIOD_M15 :  SetValues(PERIOD_M5,  
PERIOD_M15,PERIOD_M30,PERIOD_H1); break;
         case PERIOD_M30 :  SetValues(PERIOD_M5, PERIOD_M15,PERIOD_M30, 
PERIOD_H1); break;
         case PERIOD_H1  :  SetValues(PERIOD_M15, PERIOD_M30,PERIOD_H1, 
PERIOD_H4);  break;
         case PERIOD_H4  :  SetValues(PERIOD_M30, PERIOD_H1, PERIOD_H4, 
PERIOD_D1);  break;
         case PERIOD_D1  :  SetValues(PERIOD_H1,  PERIOD_H4, PERIOD_D1, 
PERIOD_W1); break;
         case PERIOD_W1  :  SetValues(PERIOD_H4,  PERIOD_D1, 
PERIOD_W1,PERIOD_MN1); break;
         case PERIOD_MN1 :  SetValues(PERIOD_H4,  PERIOD_D1, 
PERIOD_W1,PERIOD_MN1);  break;
      }
   }
   
}

bool NewBar()
{
   static datetime dt = 0;
   
   if (Time[0] != dt)
   {
      dt = Time[0];
      return(true);
   }
   return(false);
}

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