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MTF TZ-CX

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This is a Beta version of Trend Indicator using Multi Time Frame Analysis to suggest a long or a short

the main use of this indicator is quick scalping and Intra-day trading.

The Indicator shows the option to show the Trend Zone and Buy/Sell Signals which the use can on or off

Also to avoid false positives we have introduced a double check using RSI,
it is defaulted to 60/30 - the users are free to change it as per their preferences

The system will not suggest a trade when the the counter in inside the RSI limits

Stop Loss - That should be done by following ones risk appetite , Ideally the open/close of the previous candle should be the stop loss for the buy/sell
but everyone has their own Risk Management Strategies based on the capital deployed.

Disclaimer : There could be scenarios when the candle is shown as a long or short and then the candle turns into opposite direction red/green .
In such scenarios , Please refer to the just preceding candle and if this candle is moving into positive direction (forming green candle) only then buy ,
Similarly Sell/Short only if this candle is forming a red candle

版本注释

Update 2nd Aug 2020

Removed the Input Option : Show SMA Tick as the usage was deprecated

Added Flexibility on RSI : Now you could set the Overbought region to 50 - 80
Now you could set the Overbought region to 20 - 50

Note : The RSI is not a standard time frame RSI , but a more hybrid RSI using derivative of Multiple RSI

If you like it and find it useful or if you find a defect or bug , Please let us know in the comments .. that would encouraging !!

版本注释

Release Notes : 30th Aug 2020
Updated Access Setting
Cosmetic Fixes

版本注释

Update : Trending logic changes ,

版本注释

Updated Date Validation conditions