One of the most basic tenants of trading is the use of multiple timeframes. The highest probability signals occur when indicators align across multiple different time period charts. The Multiple Timeframe Stochastic Momentum Index (SMI) monitors multiple timeframes simultaneously and indicates when an overbought or oversold alignment exists with either a red or green vertical band. ****Note: You must not have the TOS style setting “Fit studies to screen” checked for the indicator to work properly.**** Also pictured are Sine Wave Cycles and a custom thresholded version of the Fisher Transform Signals. The paintbar coloring is courtesy of a forthcoming trend indicator I am developing. (Note: The Multiple Timeframe SMI will be sent out during this weekend’s Pro Subscriber update.)
Multiple Timeframe SMI
Wow Eric,
Very nice! I do almost all of my analysis and trading utilizing multiple times. I’m looking forward to checking out this new study. The Multiple Time Frame paint bars are also another fantastic feature.
Will the SMI have variables to be used across user defined time frames? How many time frames will be available? Can they be used across Tick Charts and Time Charts individually and mixedy? What is the depth of each setting? (ie: # of Ticks, Minute, Hourly, Weekly, Monthly) Will these studies also be feasible for use with Currency Futures and some Commodity Futures?
The same questions (above) apply to the Multiple Time Frame Paint Bars if applicable…
Not sure if I also see the Trade Zones Study in this capture as well?
Thanx Eric,
Peace-
RappidFyre
oh … interesting approach! beats having multiple squiggles on the lower indicator!
looks amazing Eric. can’t wait to see how you pulled this one off. I imagine it was difficult to aggregate your own “candle” data for the shorter time frames.
nummy, soup’s on
Just like the way you have multiple time frame for stochastics, can there be one for Fisher Multiple time frames? That would be superb if you could make that?
Nummy created an MTF Fisher. It is posted in the form.
-Eric
How you paint special time like if I want paint background magenta between 9h30 to 11h30 ?
or painting background (not all only when the trend is up) for exemple trend is up between 9h30 to 11h30 and the rest of the day trend consolidate. I can painting the entire background but not specifique bar of it. thank in advance for explain the code.
Bob,
See this indicator:
http://www.thinkscripter.com/indicator/trade-zones/
-Eric