Multi Time Frame (MTF) Super Trend indicator custom thinkorswim TOS indicator

This Multi Time Frame (MTF) Super Trend indicator has all features from (Super Trend indicator advanced edition). The only difference is that this version has Multi Time Frame (MTF) feature.

Some examples of putting multiple time frames into use would be:

A swing trader, who focuses on daily charts for his or her decisions, could use weekly charts to define the primary trend and 60-minute charts to define the short-term trend.

A day trader could trade off of 15-minute charts, use 60-minute charts to define the primary trend and a five-minute chart (or even a tick chart) to define the short-term trend.

A long-term position trader could focus on weekly charts while using monthly charts to define the primary trend and daily charts to refine entries and exits.

Source: http://www.investopedia.com 

SuperTrend Indicator is good to identify the trend of current market.

It uses Average True Range (ATR) and median price to calculate the upper and lower trend line.

It provides signals whenever the price breakout the current trend line.

With this Thinkorswim version of SuperTrend Indicator, you have the following adjustable parameters:

1.     Highlight color of bars, it makes easier to identify the current trend.
2.     length: used to calculate the Average True Range (ATR)
3.     multiplier: the Coefficient value to adjust the offset from the Mid Price
4.     median length: used to calculate the median price.
5.     nearby ratio: a unique feature which is only available in this version. It plots arrows as alert whenever the price nearby the trend line. It shows possible breakout or pullback with a given ratio.
6.     Alert: This is used to turn on/off the nearby ratio.
7.  MTF: Select Yes to enable  Multi Time Frame mode.
8. timeframe: select the time frame you want to apply.

It works on all time frame(Tick, Minutes, Daily, Weekly, Monthly) and all markets(Stocks, Futures, Forex, Options,ETF, etc.)

Since there already are many explaination and details about this indicator, we don’t repeat it here.

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