The Super Trend Indicator is very popular and here is the multiple timeframes version of such a super trend indicator. With this indicator, you can see the value of the super trend indicator at a glance for various time frames.
Additionally, with this indicator, the chart is not messed up as it is displayed in the sub-window instead of the main chart.
Here we introduce such a revolutionary MT4 indicator "the MTF SuperTrend".
When this indicator is placed on a chart, 4 bars will be displayed in the sub-window. Each bar shows the value of the super trend indicator in a different time frame. For example, in the above picture, the 5-minute chart shows the super trend indicator of 15 minutes, 30 minutes, 1 hour and 4 hours from the bottom.
By doing multiple timeframes analysis like this, you can see at a glance what is happening in other time frames.
Tips on how to use:
1. It is good to enter trades when all the bars used as trade triggers turn red or blue. In such cases, a fairly strong trend has probably developed.
2. This indicator can also be used for exit signals either for a profit or an early exit as a stop loss.
3. As with the RSI, the MACD or any other technical indicator, it is often more effective to combine them in order to achieve greater confirmation of trade signals. Combining the MTF Super Trend indicator with other indicators also further increases its reliability.
The following picture shows such a case of combining the MTF SuperTrend indicator with another indicator. However, since this indicator is already MTF-ed, it is quite reliable by itself also. Therefore, trading is possible even with this indicator alone.
Download the "MTF_SuperTrend_Bar" indicator for free from the button below
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