Summary This indicator shows 3 multi time frame Bollinger bands (MTF BB) from different time frames which is daily, 4 hour and 1 hour to lower time frames with 3 bands(+-1-3ς).
Example: If you set daily BB, it will be shown on daily, 4hour, 1hour, 30M, 15M, 5M and 1M charts. It will not appear on weekly and monthly charts as it is not necessary to see it on higher time frames.
Purpose This indicator has been developed to show higher timeframe’s BB as they are expected to work as support and resistance .
How is it different from other BB indicators? Problems with other conventional BB indicators are;
-If you set higher timeframe BB(MTF BB), it will also be shown on further higher time frames. i.e. If you set 4hour chart BB on 1 hour or lower time frame charts, it will also appear on daily and weekly chart, which is not necessary. -One indicator displays one BB only which impacts the number of indicators that you can set(depending on your account plan) -One indicator displays one band only. If you need 1-3ς, you need to add the same BB indicator.
To tackle these problems, this indicator has incorporated functions below. -Control timeframes where BB is displayed to eliminate unnecessary information on higher time frames. -One indicator contains 3 BB with 3 bands(minus 1-3ς & plus 1-3ς) which contributes to save the number of indicators that you can set.
These are the value added on this indicator.
Spec -This indicator shows daily BB, 4 hour BB and 1 hour BB. To be clear, daily BB means that BB created based on daily chart , which can be shown on lower timeframes. -Each BB displays 3 bands(minus 1-3ς & plus 1-3ς) and middle line -Display of each band can be parameterized to show and not to show e.g. Showing only plus/minus 2 and 3ς etc. -The middle line adopts SMA ( simple moving average ) only and you can set period of SMA . -Each BB will be shown as follows based on timeframes that you select.
Daily BB: Shown on daily, 4hour, 1 hour, 30M, 15M, 5M and 1M chart (Weekly and Monthly chart does not show BB)
4hour BB: Shown on 4hour, 1 hour, 30M, 15M, 5M and 1M chart (Daily, Weekly and Monthly chart does not show BB)
1hour BB: Shown on 1 hour, 30M, 15M, 5M and 1M chart (4hour, Daily, Weekly and Monthly chart does not show BB)
-Each BB can be enabled and disabled by ticking checkbox. e.g. On 1 hour chart, you can disable 4 hour BB and show daily BB only etc.
Please see the sample chart below.
Sample chart with the indicator
Daily chart
4hour chart showing daily BB and 4H BB
1hour chart showing daily BB, 4H BB and 1H BB
5Mchart showing daily BB, 4H BB and 1H BB
Journey to use indicator This indicator is paid indicator and invited-only indicator.
Please contact me via private chat or follow links in my signature so that we can initiate the process to access the indicator
″Please contact me via private chat or follow links in my signature so that I can grant the access right to the indicator. 使用を希望される方はプライベートチャットや署名欄のリンクのDMでご連絡ください。