This script is designed to provide traders with a visual "Multi-Timeframe" analysis tool. Instead of looking at just one chart at a time, it allows you to see the market trend across four different time periods simultaneously in a single indicator window.
Core Functionality
The primary goal of this logic is to identify the prevailing market direction by comparing multiple timeframes. It automatically detects which timeframe you are currently viewing and selects a corresponding set of four related timeframes to monitor. For example, if you are on a 15-minute chart, it will pull data from 15-minute, 30-minute, 60-minute, and 4-hour charts.
How It Works
- Data Retrieval: The script reaches out to an external calculation (a "LevelStop" indicator) to gather two specific data points for each of the four timeframes. These points represent a "fast" moving value and a "slow" moving value (similar to how a Stochastic oscillator functions).
- Trend Identification: For every timeframe analyzed, the script compares these two values:
- If the fast value is higher than the slow value, it identifies an upward trend.
- If the fast value is lower than the slow value, it identifies a downward trend.
- Visual Representation: The script plots these trends as colored "bars" or dots in a separate window at the bottom of your screen. To keep the information organized and easy to read, it stacks these bars vertically with specific spacing (Gaps) so they do not overlap.
- One color (typically Lime/Green) represents an upward movement.
- The other color (typically Red) represents a downward movement.
- Dynamic Labeling: To ensure you know which bar belongs to which timeframe, the script automatically generates text labels on the side of the indicator window (e.g., "M5", "H1", "D1").
User Experience
For a trader, this means you can see at a glance if the short-term trend aligns with the long-term trend. If all four bars are showing the same color, it suggests a strong, unified trend across all timeframes. If the colors are mixed, it indicates conflicting momentum between different time scales. It essentially simplifies complex multi-chart analysis into a single, organized visual summary.
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4TF_StB_MT4-LevelStop-Reverse-v2_bar
//+-------------------------------------------------------------------+
//| 4TFStochBars modified from: |
//|MTF NonLagMAv7.1_4TF_BarM based on MTF_MegaTrend_Bar_4TFNextM5 |
//| from STEINITZ lee_yan_cn mod N4TF HAS Bar.mq4 |
//| Modified by Matsu, from #MTF Supertrend Bar.mq4 |
//| Forex-TSD.com Copyright © 2006-07, Eli hayun |
//| http://www.elihayun.com |
//+-------------------------------------------------------------------+
#property copyright "Copyright © 2006-07, Eli hayun"
#property link "http://www.forex-tsd.com/indicators-metatrader-4/1077-multi-timeframe-indicators-113.html#post153185"
#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 5.5
#property indicator_buffers 8
#property indicator_color1 Red
#property indicator_color2 Lime
#property indicator_color3 Red
#property indicator_color4 Lime
#property indicator_color5 Red
#property indicator_color6 Lime
#property indicator_color7 Red
#property indicator_color8 Lime
//---- parameters
extern bool UseATRMode = true;
extern int NonATRStopPips = 40;
extern int ATRPeriod = 9;
extern double ATRMultiplier = 3.0;
extern int ATRSmoothing = 0;
extern bool arrows = false;
extern string note4 = "use WingDings font";
extern int BarSymbol = 110;
extern int BarWidth = 0;
extern color BarColorUp = Lime;
extern color BarColorDown = Red;
extern color TextColor = Blue;
extern int MaxBars=150;
extern int UniqueNum = 19631;
double Gap = 1; // Gap between the lines of bars
//---- 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[];
double percentK;
double percentD;
string shortname = "";
int Period_1, Period_2, Period_3, Period_4;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
SetIndexStyle(0,DRAW_ARROW,0,BarWidth,BarColorUp);
SetIndexArrow(0,BarSymbol);
SetIndexBuffer(0,buf1_up);
SetIndexEmptyValue(0,0.0);
SetIndexStyle(1,DRAW_ARROW,0,BarWidth,BarColorDown);
SetIndexArrow(1,BarSymbol);
SetIndexBuffer(1,buf1_down);
SetIndexEmptyValue(1,0.0);
SetIndexStyle(2,DRAW_ARROW,0,BarWidth,BarColorUp);
SetIndexArrow(2,BarSymbol);
SetIndexBuffer(2,buf2_up);
SetIndexEmptyValue(2,0.0);
SetIndexStyle(3,DRAW_ARROW,0,BarWidth,BarColorDown);
SetIndexArrow(3,BarSymbol);
SetIndexBuffer(3,buf2_down);
SetIndexEmptyValue(3,0.0);
SetIndexStyle(4,DRAW_ARROW,0,BarWidth,BarColorUp);
SetIndexArrow(4,BarSymbol);
SetIndexBuffer(4,buf3_up);
SetIndexEmptyValue(4,0.0);
SetIndexStyle(5,DRAW_ARROW,0,BarWidth,BarColorDown);
SetIndexArrow(5,BarSymbol);
SetIndexBuffer(5,buf3_down);
SetIndexEmptyValue(5,0.0);
SetIndexStyle(6,DRAW_ARROW,0,BarWidth,BarColorUp);
SetIndexArrow(6,BarSymbol);
SetIndexBuffer(6,buf4_up);
SetIndexEmptyValue(6,0.0);
SetIndexStyle(7,DRAW_ARROW,0,BarWidth,BarColorDown);
SetIndexArrow(7,BarSymbol);
SetIndexBuffer(7,buf4_down);
SetIndexEmptyValue(7,0.0);
IndicatorDigits(0);
getPeriod();
shortname = " increase ";
IndicatorShortName(shortname);
SetIndexLabel(0,"StochBars("+Period_1+")");
SetIndexLabel(1,"StochBars("+Period_1+")");
SetIndexLabel(2,"StochBars("+Period_2+")");
SetIndexLabel(3,"StochBars("+Period_2+")");
SetIndexLabel(4,"StochBars("+Period_3+")");
SetIndexLabel(5,"StochBars("+Period_3+")");
SetIndexLabel(6,"StochBars("+Period_4+")");
SetIndexLabel(7,"StochBars("+Period_4+")");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<0) return(-1);
//---- the last counted bar will be recounted
if(counted_bars>0) counted_bars--;
int limit=Bars-counted_bars+Period_4/Period();
int i,tf;
//-------------------------------1----------------------------------------
double dif = Time[0] - Time[1];
for ( i=ObjectsTotal()-1; i>-1; i--)
{
if (StringFind(ObjectName(i),"FF_"+UniqueNum+"_") >= 0) ObjectDelete(ObjectName(i));
}
double shift = 0.2;
for ( tf=1; tf<=4; tf++)
{
string txt = "??";
double gp;
switch (tf)
{
case 1: txt = tf2txt(Period_1); gp = 1 + Gap*3 + shift; break;
case 2: txt = tf2txt(Period_2); gp = 1 + Gap*2 + shift; break;
case 3: txt = tf2txt(Period_3); gp = 1 + Gap + shift; break;
case 4: txt = tf2txt(Period_4); gp = 1.5 + shift; break;
}
string name = "FF_"+UniqueNum+"_"+tf+"_"+txt;
ObjectCreate(name, OBJ_TEXT, WindowFind(shortname), iTime(NULL,0,0)+dif*3, gp);
ObjectSetText(name, txt,8,"Arial", TextColor);
}
//-------------------------------2----------------------------------------
datetime TimeArray_1[], TimeArray_2[], TimeArray_3[], TimeArray_4[];
ArrayCopySeries(TimeArray_1,MODE_TIME,Symbol(),Period_1);
ArrayCopySeries(TimeArray_2,MODE_TIME,Symbol(),Period_2);
ArrayCopySeries(TimeArray_3,MODE_TIME,Symbol(),Period_3);
ArrayCopySeries(TimeArray_4,MODE_TIME,Symbol(),Period_4);
int i1=0, i2=0, i3=0, i4=0, yy;
for(i=0, i1=0, i2=0, i3=0, i4=0;i<limit;i++)
{
if (Time[i]<TimeArray_1[i1]) i1++;
if (Time[i]<TimeArray_2[i2]) i2++;
if (Time[i]<TimeArray_3[i3]) i3++;
if (Time[i]<TimeArray_4[i4]) i4++;
for ( tf = 1; tf <= 4; tf++)
{
int prd;
switch (tf)
{
case 1: prd = Period_1; yy = i1; break;
case 2: prd = Period_2; yy = i2; break;
case 3: prd = Period_3; yy = i3; break;
case 4: prd = Period_4; yy = i4; break;
}
percentD = iCustom(NULL,prd,"MT4-LevelStop-Reverse-v2_bar",UseATRMode,NonATRStopPips,ATRPeriod,ATRMultiplier,ATRSmoothing,arrows,0,yy);
percentK = iCustom(NULL,prd,"MT4-LevelStop-Reverse-v2_bar",UseATRMode,NonATRStopPips,ATRPeriod,ATRMultiplier,ATRSmoothing,arrows,1,yy);
// percentD = iStochastic(NULL,prd,KPeriod,DPeriod,Slowing,MAMethod,PriceField,MODE_MAIN,yy);
// percentK = iStochastic(NULL,prd,KPeriod,DPeriod,Slowing,MAMethod,PriceField,MODE_SIGNAL,yy);
switch (tf)
{ case 4: buf4_down[i]=EMPTY_VALUE;buf4_up[i]=EMPTY_VALUE; if (percentK>=percentD) buf4_down[i] = 1; else buf4_up[i] = 1; break;
case 3: buf3_down[i]=EMPTY_VALUE;buf3_up[i]=EMPTY_VALUE; if (percentK>=percentD) buf3_down[i] = 1 + Gap * 1; else buf3_up[i] = 1 + Gap * 1; break;
case 2: buf2_down[i]=EMPTY_VALUE;buf2_up[i]=EMPTY_VALUE; if (percentK>=percentD) buf2_down[i] = 1 + Gap * 2; else buf2_up[i] = 1 + Gap * 2; break;
case 1: buf1_down[i]=EMPTY_VALUE;buf1_up[i]=EMPTY_VALUE; if (percentK>=percentD) buf1_down[i] = 1 + Gap * 3; else buf1_up[i] = 1 + Gap * 3; break;
}
}
}
return(0);
}
//+------------------------------------------------------------------+
void getPeriod()
{
switch(Period())
{
case 1:
Period_1=1; Period_2=5; Period_3=15; Period_4=30;
break;
case 5:
Period_1=5; Period_2=15; Period_3=30; Period_4=60;
break;
case 15:
Period_1=15; Period_2=30; Period_3=60; Period_4=240;
break;
case 30:
Period_1=30; Period_2=60; Period_3=240; Period_4=1440;
break;
case 60:
Period_1=60; Period_2=240; Period_3=1440; Period_4=10080;
break;
case 240:
Period_1=240; Period_2=1440; Period_3=10080; Period_4=43200;
break;
case 1440:
Period_1=1440; Period_2=10080; Period_3=43200; Period_4=43200;
break;
case 10080:
Period_1=10080; Period_2=43200; Period_3=43200; Period_4=43200;
break;
case 43200:
Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
break;
}
}
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("MN");
//---- Refresh buffers ++++++++++++++++++++ upgrade by Raff
int TimeFrame,TimeArray[],i;
if (TimeFrame>Period()) {
int PerINT=TimeFrame/Period()+1;
datetime TimeArr[]; ArrayResize(TimeArr,PerINT);
ArrayCopySeries(TimeArr,MODE_TIME,Symbol(),Period());
for(i=0;i<PerINT+1;i++) {if (TimeArr[i]>=TimeArray[0]) {
/********************************************************
Refresh buffers: buffer[i] = buffer[0];
********************************************************/
buf4_up[i]=buf4_up[0];
buf4_down[i]=buf4_down[0];
buf3_up[i]=buf3_up[0];
buf3_down[i]=buf3_down[0];
buf2_up[i]= buf2_up[0];
buf2_down[i]= buf2_down[0];
buf1_up[i]=buf1_up[0];
buf1_down[i]= buf1_down[0];
//----
} } }
//+++++++++++++++++++++++++++++++++++++++++++++++ Raff
//+-------------
return("??");
}
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