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eSignal Indicators & Trading Tools
MCT Multi Time Frame Trigger Indicator

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MCT Multi Time Frame Trigger Indicator

Multi Time Frame analysis is very powerful. So we took our favourite price action indicator and converted it to a Multi Time Frame Trigger.  The indicator look in 4 time frames for price action alignment (confluence). The chart time frame and 3 manually chosen time frames is used to make calculations. The indicator is based on the Relative Srenght Index together with a price volatility calculation and bars are colored as follows :

Lime - Price action is Up and volatility is Increasing. Red - Price action is Down and volatility is Increasing. Dark Green -  Price action is Up and volatility is Decreasing. Dark Red - Price action is Down and volatility is Decreasing.

We recommend only to trade on the arrows. The arrows and diamonds is painted as follows:

Lime Arrow Up - Price action is Up in ALL Time frames and volatility is Increasing in ALL Time frames (the strongest signal Up).

Red Arrow Down - Price action is Down in ALL Time frames and volatility is Increasing in ALL Time frames (the strongest signal Down).

Dark Green Arrow Up - Price action is Up in ALL Time frames, but volatility is NOT Increasing in ALL Time frames (strong signal Up).

Dark Red Arrow Down - Price action is Down in ALL Time frames, but volatility is NOT Increasing in ALL Time frames (strong signal Down).

Gray Diamond - No time frame alignment. Do not trade, markets neutral and not in alignment.

Orange Diamond - Price action alignment  Up in all time frames, but NO volatility. Warning sign, be cautious.

Yellow Diamond - Price action alignment  Down in all time frames, but NO volatility. Warning sign, be cautious.

Newest version has Strategy Analyser built in for Back testable results and optimisation of settings! Click to see example of EURO USD

Now also available in a WATCHLIST version.

ES_MTF_Scalping_3Contracts.mp4

How we use the MTF tool with eSignal 12.7. Click here to see PDF



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