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Multi Time Frame indicators good for trading signals ?

By   /   September 15, 2013  /   No Comments

what is multi time frame indicator ?

Multi Time Frame indicator or MTF the shortcut name is to use another time frame to calculate the indicator equation output , for example indicator uses H4 chart data but shows the output on another time frame chart like H1 chart data .

example :

mtf multi time frame

Multi Time Frame indicators Disadvantages :

  1. most of MTF forex indicators are repaint that’s mean the current signal on the chart time frame will not confirmed and can disappear unless the main time frame candle ends .
  2. indicator signal is a little slow until shown because the indicator based on higher time frame .
  3. MTF indicators can fool you when you do a visual back test .

Multi Time Frame indicators advantages :

  1. you can use the higher time frame to make sure we follow the main chart trend and not going against the trend .
  2. of course the more higher time frame we use the less wrong signals we get .
  3. you can see more than time frame on the same chart .

 

some indicators uses MTF property :

WPR – Alert Multi Time Frame indicator for metatrader 4
RSI Multi Time Frame indicator with message alert

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