{"id":711,"date":"2020-01-22T02:41:09","date_gmt":"2020-01-22T02:41:09","guid":{"rendered":"http:\/\/patternsmart.com\/wp\/?p=711"},"modified":"2020-01-22T02:42:23","modified_gmt":"2020-01-22T02:42:23","slug":"multi-time-frame-mtf-braintrend-indicator-tradingview-no-repaint-version","status":"publish","type":"post","link":"https:\/\/patternsmart.com\/wp\/multi-time-frame-mtf-braintrend-indicator-tradingview-no-repaint-version\/","title":{"rendered":"Multi Time Frame (MTF) BrainTrend Indicator Tradingview NO REPAINT version."},"content":{"rendered":"\n
\"\"\/<\/a><\/figure>\n\n\n\n


\nThis is the <\/strong>NO REPAINT<\/em> version with new algorithm, it also comes with alert.

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\nIn the original version, signal on current bar will always change until the Close price is fixed.

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\nBy NO REPAINT<\/em>, it means the last\/current signal will never change.<\/strong>

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<\/p>\n\n\n\n

With this MTF version BrainTrend, you can apply any time frame of BrainTrend to your current chart.

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\nAs long as the selected MTF time frame is greater than the chart time frame.

\n

\nSome examples of putting multiple time frames into use would be:

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

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

\nA\n long-term position trader could focus on weekly charts while using \nmonthly charts to define the primary trend and daily charts to refine \nentries and exits.

\nSource: http:\/\/www.investopedia.com 

\n BrainTrend is a very popular Indicator, the calculation is based on Stochastic Oscillator and Average True Range (ATR).<\/p>\n\n\n\n

  1. Stochastic\n Oscillator is based on the observation that as prices increase, closing\n prices tend to be closer to the upper end of the price range. In \ndowntrends, the closing price tends to be near the lower end of the \nrange.<\/li>
  2. ATR\n calculates the average of true price ranges over a time period. The \nTrue Price Range is defined as the greatest of distances between today’s\n high to today’s low, yesterday’s close to today’s high, and yesterday’s\n close to today’s low. The Average True Range is a moving average of the\n True Range over a specified period of time.<\/li><\/ol>\n\n\n\n

    BrainTrend\n will provide a buy signal with a big Cyan dot when buy conditions are \nmet. The value of the big cyan dot is the initial stop for the position.\n BrainTrend will provide a sell signal with a big Magenta dot when sell \nconditions are met. The value of the big dot is the initial stop for the\n position.

    \n <\/p>\n\n\n\n

    It\n shows trend direction by colors, when the market changes to or stays in\n an up-trend, the bars become or remain Cyan. When the market changes to\n or stays in a downtrend, the bars become or remain Magenta. When the \nmarket goes sideways or is not strong on either side, the bars become or\n remain Cyan.

    \n <\/p>\n\n\n\n

    Cyan Dots below the lows of the bars indicate two things:
    \n(1) the market is in an up-trend;
    \n(2) the values of the Cyan Dots are the protection stops or the profit \ntarget stops (if the position had profit) for the long position.

    \n <\/p>\n\n\n\n



    \nThe Magenta Dots above the highs of the bars indicate two things:
    \n(1) the market is in a down-trend;
    \n(2) the values of the Magenta Dots are the protection stops or the \nprofit target stops (if the position had profit) for the short position.\n

    \n <\/p>\n\n\n\n

    \"\"\/<\/a><\/figure>\n\n\n\n
    \"\"\/<\/a><\/figure>\n\n\n\n
    \"\"\/<\/a><\/figure>\n\n\n\n

    Entry\n points are also effected by the settings of the time frame. The longer \nthe time frame, the higher the accuracy. The time frame controls the \ntrading frequency too.
    \nGenerally, use the longer time frame to determine the direction that you want to enter; use the shorter time frame to pinpoint the entry.

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    \nFor example, you may use 1-hour chart to guide the direction and use 15-min chart for entry or exit for daytrading.
    \n
    \nThis method has a great advantage of getting better filled for position \ntrading. Use the longer time frame, such as the 4-hour bar, to determine\n the direction, and use a short time frame, such as 1-hour or 30 minute,\n to determine the entry point. For example, if the 4-hour bar is cyan, \nprepare to buy, but wait for the 1-hour or 30 minute bar to turn \nMagenta. Estimate the normal retracement duration for your market. If \nthe normal retracement duration is 4 bars on the 30 minute chart, then \nwait for 4 Magenta bars, and if the 4th Magenta bar does not penetrate \nthe BrainTrade stop, enter a long position at the market. You get a \nbetter filled price as well as a favorable market position, since the \nmarket did not penetrate the stop after a normal retracement period. You\n may use 4-hour chart to guide the direction and use 1-hour chart for \nentry or exit for position trading. Wait the market pulling back, but \nnot penetrating the BrainTrade stops to enter.
    \n
    \nYou need to decide for yourself, though typically the best time is about\n 4 to 8 bars. Avoid entering the market near the current high or long \nterm Resistance Line, even when you get a buy signal from short term \nchart and confirmed by long-term chart.
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    \n <\/strong><\/strong>


    \n

    \n <\/p>\n\n\n\n

    The\n trading tips revealed here are intended to enhance your winning \nprobability. Any trading rules, however, have certain limitations based \non which market you refer to, what kind of confirmations you are using, \nwhat time frame is being used, and so on. You need to test the rules \nwith your specific market before applying to real trading. To apply \nBrainTrade indicators with consideration of different market conditions \nis very important.

    \n <\/p>\n\n\n\n

    \"\"\/<\/a><\/figure>\n\n\n\n



    \nBrainTrade\n is ideal for both day trading and position trading. BrainTrade help you\n to focus on the most essential information on markets. BrainTrade \nindicators provide market directions, provide trend and stops, provide \nbuy and sell signals. With BrainTrade you now have immediate access to \nthe river of information about the major trend changes, buy and sell \nsignals, and stops for large number of market symbols. BrainTrade is \nrevolutionizing the very nature of trading. People have lived for so \nlong without information at their fingertips that they don\u2019t realize \nwhat they\u2019re missing.

    \n

    \n

    \nParameters available for you to adjust the BrainTrend Indicator.
    <\/p>\n\n\n\n

    1. timeframe: choos your desired timeframe.<\/li>
    2. stoch_period<\/li>
    3. stoch_max<\/li>
    4. stoch_min<\/li>
    5. atr_current_norm_factor<\/li>
    6. atr_before_norm_factor<\/li>
    7. atr_period<\/li>
    8. atr_before_step<\/li><\/ol>\n\n\n\n

      Since there already are many explaination and details about this indicator, we don’t repeat it here.
      \n
      \nIt works on all time frame and all markets(Stocks, Futures, Forex, Options,ETF, etc.)

      \n

      \n

      \nYou can set up alerts based on this indicator’s plot, if you want to get alert when the buy signal appears, you can use the following settings.

      \n
      <\/p>\n\n\n\n

      \"\"\/<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

      This is the NO REPAINT version with new algorithm, it also comes with alert. In the original version, signal on current bar will always change until the Close price is fixed. By NO REPAINT, it means the last\/current signal will never change. With this MTF version BrainTrend, you can apply any time frame of BrainTrend to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[142],"tags":[],"class_list":["post-711","post","type-post","status-publish","format-standard","hentry","category-tradingview"],"_links":{"self":[{"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/posts\/711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/comments?post=711"}],"version-history":[{"count":1,"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/posts\/711\/revisions"}],"predecessor-version":[{"id":712,"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/posts\/711\/revisions\/712"}],"wp:attachment":[{"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/media?parent=711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/categories?post=711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/patternsmart.com\/wp\/wp-json\/wp\/v2\/tags?post=711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}