The Heikin Ashi MTF Trend indicator takes a simple approach to understand the trend by visualizing Heikin Ashi candle colors across multiple timeframes and representing it in a simple and visual manner. It utilizes the Heikin Ashi (HA) candles across four custom timeframes to detect trend shifts and strength. The indicator also offers alert conditions for potential bullish and bearish trend shifts.
█ Features
► Multiple Timeframes (MTF) Trend Detection: The script fetches HA data from four different timeframes. This multi-timeframe approach gives a holistic view of the market sentiment. ► Weighted Trend Score: The individual trend scores of the four timeframes are multiplied with their respective weights and summed up to provide a cumulative trend score that is used to determine bar colors and trend shifts. ► Visual Trend Depiction: It displays the trend using default green/red squares for each timeframe and a gradient-filled bar to represent the cumulative trend score. ► Trend Change Alerts: Users can set alerts for bullish and bearish trend shifts.
█ Alerts
◊ Bull Trend Signal Alert: Alert when there is a bullish trend shift. ◊ Bear Trend Signal Alert: Alert when there is a bearish trend shift.
█ Usage Tips
◊ The greater the discrepancy in the weights across the timeframes, the more emphasis is placed on the higher weighted timeframe. ◊ While the gradient bar provides a quick trend overview, it's essential to view the trend squares to understand the individual timeframe sentiments. ◊ Always consider using this tool in conjunction with other indicators or methods for confirmation and enhanced trading strategy.
Happy Trading~~
Nota Keluaran
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Added Display Styles ◊ Squares or Lines ◊ Customizable line thickness ◊ Customizable colors
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◊ Added timeframe labels
Nota Keluaran
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Fixed Bar Color option bug.
Nota Keluaran
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Updated script with PineCoders' best practice to avoid repainting when fetching data from higher timeframe. Added option to toggle Weighted Trend signals
A thousand thanks. I wanted to ask you if this code can be used on visual trader. I find it very useful and would like to use it for my analyses. Would it also be possible to leave the color of the HA candles unchanged? Thank you
PtGambler
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@mantegnafilippo, hey~ this code is specific for TradingView only.
mantegnafilippo
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@PtGambler, hi thanks for the reply, would you be able to translate the code for visual trader? Thank you
saiyedsamiruddin
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HI SIR your indicator is good but after switch off repint data from settings then aslo it shows repaint data please help for this problem if this repaint problem will solve in this indicator. Indicator will be the best ever best
PtGambler
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@saiyedsamiruddin, check the latest update to see if you are still seeing any repainting with the option turned off. Thanks.
Michelok
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Hi, again. I also see that I cannot turn off colors of the candles. When I uncheck the box the candles still show colors. Is it just me or is this not working? Thanks for your time.
HI, thanks for this but I see one strange thing about it: when trading live I get signals that later in the day have disappeared. When backtesting I get better results than in realtime it seems. How can the signal change during day, just curious about some explanation. Hope you can shed some light on this. Tia!
PtGambler
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@Michelok, hey~ this tool "repaints" historical bars. There is an option in the setting to turn that off for more realistic back testing.