SFC MTF Candles

Most technical traders in the foreign exchange market, whether they are novices or seasoned pros, have come across the concept of multiple time frame analysis in their market educations.

Multiple time-frame analysis involves monitoring the same currency pair across different frequencies (or time compressions). While there is no real limit as to how many frequencies can be monitored or which specific ones to choose, there are general guidelines that most practitioners will follow.
Typically, using three different periods gives a broad enough reading on the market, while using fewer than this can result in a considerable loss of data, and using more typically provides redundant analysis.

This indicator helps traders to visualise the last few candles on many time frames.

For manipulation traders I have added the ability to see the current manipulation on different time frames. When such a candle is created, its colour changes to purple.


The Heikin-Ashi technique averages price data to create a Japanese candlestick chart that filters out market noise.
Heikin-Ashi charts, developed by Munehisa Homma in the 1700s, share some characteristics with standard candlestick charts but differ based on the values used to create each candle. Instead of using the open, high, low, and close like standard candlestick charts, the Heikin-Ashi technique uses a modified formula based on two-period averages. This gives the chart a smoother appearance, making it easier to spots trends and reversals, but also obscures gaps and some price data.


Linear regression attempts to model the relationship between two variables, with a given collection of data values.
Linear regression is a very common and useful technique for following the trend. This technique is applied to candles in order to filter out false movements.


Heikin Ashi and Linear Regression candles are helpful for more conservative traders. If they are not sure about the direction, they can wait for these candles to change colour (direction) as an extra confirmation.


Features:
- Up to 6 time frames
- Up to 4 MTF bars
- Heikin Ashi candles (current time frame) - x4
- Linear Regression candles (current time frame) - x4

Settings
- Time frames on/off
- Selection how many bars to display from each time frame (max 4)
- Adjustment of distance between candles
- Adjusting the position of the candles
- Heikin Ashi candles on/off
- TLinear regression candles on/off
- Linear regression candle length adjustment

How to use the indicator:
Traders can visualise different candles in order to observe the chart better and faster.
All they have to do is activate the group of candles they want and set it up according to their preferences.



Due to the complexity of the code, there is a 1s delay when all features are enabled. To eliminate the lag, deactivate some of the features
It is recommended to have a maximum of 3 time frames activated during the high impact news, as the price changes very quickly.

版本注释:

-colour for bearish manipulation candle
-colour for bullish manipulation candle

版本注释:

-minor bug fixes