This is a simple multi-frame indicator for those who prefer to see indicators of higher timeframes on the current chart.
The basic indicator here is JMASlope. For the operation of a multi-frame indicator a basic indicator is obligatory.
JMASlope is developed by TrendLaboratory Ltd. (Copyright © 2005, TrendLaboratory Ltd.).
The basic indicator JMASlope detects peaks of price impulses and the divergence of such impulses. Besides, it indirectly detects the impulse strength by comparing previous peak sizes.
I think, this indicator will be very useful for those who prefer scalping and swing trading.
However, the use of the indicator alone on a current timeframe results in a lot of errors, because the indicator does not show the general state. For diminishing the number of such errors, the multi-frame indicator JMASlope_MTF has been created.
If we attach to a chart both the basic and the multi-frame indicator, the current situation state becomes clear.
The multi-time indicator will detect global impulses, while the basic indicator will detect the structure and parts of the global impulse.
In such a case this set may be useful for those who analyze the market using Elliot Waves.
MT4 Indicators – Download Instructions
JMASlope MTF – Multi-Frame Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
JMASlope MTF – Multi-Frame Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install JMASlope MTF – Multi-Frame Indicator.mq4?
- Download JMASlope MTF – Multi-Frame Indicator.mq4
- Copy JMASlope MTF – Multi-Frame Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on JMASlope MTF – Multi-Frame Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator JMASlope MTF – Multi-Frame Indicator.mq4 is available on your Chart
How to remove JMASlope MTF – Multi-Frame Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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MT4 Indicators Download here: JMASlope MTF – Multi-Frame Indicator