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Higher timeframe indicator (trend indicators)

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Higher timeframe indicator (trend indicators)

  • Overview
  • How to install
  • How to set up
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MT4 MT5

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The higher timeframe indicator (trend indicators) is an indicator to display moving average, parabolic SAR, or Bollinger bands of the same or higher timeframe than the one for the current chart. It shows the technical indicators of different timeframes on a single chart, which will be useful if you want to check the long-term technical indicators to grasp the market direction before making short-term trades.

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Features

Check values for different timeframes

The higher timeframe indicator (trend indicators) can display the technical indicators with different timeframes, e.g., showing the 4-hour moving average on the 1-hour chart. As 4 candles on the 1-hour chart are equivalent to 1 candle on the 4-hour chart, it will be drawn stepwise.

The higher timeframe indicator (trend indicators) overall view The higher timeframe indicator (trend indicators) overall view

The higher timeframe indicator (trend indicators) can show three types of technical indicators:

  • Moving average
  • Parabolic SAR
  • Bollinger bands

Each technical indicator can be turned on or off on parameters, which offers a great degree of customizability, such as displaying a single indicator, or a certain combination.

Display the moving average, parabolic SAR, and Bollinger bands simultaneously Display the moving average, parabolic SAR, and Bollinger bands simultaneously

Note that although it is possible to display, for example, both of the 4-hour and daily higher timeframe indicators on a 1-hour chart, if this indicator is applied to the chart several times, it may take time to appear on the chart. In this case, please wait for a while or press the "Refresh" button on the chart.

caution Timeframes lower than the current one cannot be displayed

The higher timeframe indicator (trend indicators) will only be displayed if you choose the same or a higher timeframe than the chart you are viewing. If you select a timeframe lower than the current one, the indicator will not be displayed. If you select the same timeframe as the chart you are viewing, the usual moving average, parabolic SAR, or Bollinger bands will be displayed.

Parameters of each technical indicator can be customized

Each technical indicator has its own parameter settings that can be changed. The customizable items are the same as for regular MetaTrader4/MetaTrader5.

Take moving average, for example, you can set the "Period", "Moving average type" and "Applied price", so that you can display a technical indicator that suits your strategy.

point What is period and applied price?

The value of the "Period" indicates how many candles are to be included in the calculation of technical indicators. For example, if "20" is set for a 1-hour chart, the technical indicator will be calculated based on "1 hour x 20 candles", or 20 hours of price movements. As for "Applied price", it indicates which price is used to calculate the technical indicator, and "Close price" is commonly used.

Also, we offer the higher timeframe indicator (oscillators) with similar features, which can display three types of technical indicators: MACD, RSI, and Stochastics.

Supports all MT4/MT5 timeframes

The higher timeframe indicator (trend indicators) can display every timeframe supported by MetaTrader4/MetaTrader5.

  MetaTrader4 MetaTrader5
Minutes M1, M5, M15, M30 M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30
Hours H1, H4 H1, H2, H3, H4, H6, H8, H12
Others Daily, Weekly, Monthly Daily, Weekly, Monthly
MetaTrader4
Minutes M1, M5, M15, M30
Hours H1, H4
Others Daily, Weekly, Monthly
MetaTrader5
Minutes M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30
Hours H1, H2, H3, H4, H6, H8, H12
Others Daily, Weekly, Monthly

You can set the timeframe on the "Timeframe" parameter of each technical indicator. By selecting "current", the chart's timeframe will be applied, while you can also select a specific timeframe to apply.

Timeframe parameter
How to install
How to set up

How to install

To use the higher timeframe indicator (trend indicators), install the "【Myforex】Higher Timeframe Indicator (Trend Indicators)" file on MetaTrader4/MetaTrader5.

Step 1

Click "File" from the menu bar at the top of MetaTrader4/MetaTrader5 and choose "Open Data Folder".

Open data folder

Step 2

After opening the data folder, double-click the folder "MQL5 (MQL4 for MetaTrader4)" in it to open it.

Open MQL5 file

Step 3

Double-click to open "Indicators" folder in the MQL5 file.

Open Indicators

Step 4

Save the "【Myforex】Higher Timeframe Indicator (Trend Indicators)" in the "Indicators" folder.

Save indicator

Step 5

Once the file is in the folder, right-click "Indicators" in the Navigator and choose "Refresh" from the displayed menu.

Refresh indicator

Step 6

After checking that the higher timeframe indicator (trend indicators) is shown in the "Indicators" of the Navigator, apply it to a chart by double-clicking or dragging and dropping.

Apply the higher timeframe indicator (trend indicators) Apply the higher timeframe indicator (trend indicators)

Step 7

Refer to the "How to set up" page to make further settings in the "Inputs" tab, then click "OK".

Displaying parameter Displaying parameter

Step 8

The higher timeframe indicator (trend indicators) is applied to the chart and the technical indicators of higher timeframe will be displayed.

Displaying the higher timeframe indicator Displaying the higher timeframe indicator
Overview
How to set up

How to set up

After applying the indicator to the chart, set the parameters according to your style.

Step 1

First, open the "Inputs" tab.

Open Inputs tab

Step 2

Set the parameters as follows.

Items for each parameter

Moving average settings

Number

Item name

Description

1

Moving average

Select ON or OFF to display or hide moving average.

2

Timeframe

Select the timeframe for the moving average to be displayed. If you select "current," it will be the same as the current chart.

3

Period

Set the calculation period for the moving average.

4

Moving average type

Select the type of moving average to display.

・Simple :simple moving average
・Exponential:exponential moving average
・Smoothed:smoothed moving average
・Linear Weighted:linear weighted moving average

5

Applied price

Select the price to use for moving average calculation.

・Close price
・Open price
・High price
・Low price
・Median price:(high price + low price) ÷2
・Typical price:(high price + low price + close price) ÷3
・Weighted price:(high price + low price + close price×2) ÷4

Parabolic SAR settings

Number

Item name

Description

6

Parabolic SAR display

Select ON or OFF to display or hide parabolic SAR.

7

Timeframe

Select the timeframe for the parabolic SAR to be displayed. If you select "current," it will be the same as the current chart.

8

Step

Enter the step for the parabolic SAR.

9

Maximum

Set the maximum acceleration factor for the parabolic SAR.

Bollinger bands settings

Number

Item name

Description

10

Bollinger bands display

Select ON or OFF to display or hide Bollinger bands.

11

Timeframe

Select the timeframe for the Bollinger bands to be displayed. If you select "current," it will be the same as the current chart.

12

Period

Set the calculation period for the Bollinger bands.

13

Deviation

Set the deviation for the Bollinger bands.

14

Applied price

Select the price to use for Bollinger bands calculation.

・Close price
・Open price
・High price
・Low price
・Median price:(high price + low price) ÷2
・Typical price:(high price + low price + close price) ÷3
・Weighted price:(high price + low price + close price×2) ÷4

Overview
How to install

Date

Created

 : 2022.05.26

Update

Last updated

 : 2022.08.05


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