Market Structure MTF

23 sept.

"Market Structure MTF" is designed to help traders analyze and visualize market structures across up to three different timeframes. It allows users to customize various parameters such as period length, label size, and colors for different elements. The indicator identifies and tracks key market structure components, such as highs and lows, break of structure, and displays this information directly on the chart. It is also useful when studying Algo Trade concepts.

Additionally, it includes a table summarizing trends and providing the efficiency of the latest market data for each timeframe.

Recommended Settings

If you're new to this indicator, it's recommended to start with a single timeframe to become familiar with its functionality.

Once comfortable, you can use the following timeframes:

1. Base Timeframe: 15 minutes
   
2. Secondary Timeframe: 1 hour
   
3. Tertiary Timeframe: 4 hours
   

Another example setup could be:

1. Base Timeframe: 1 hour
   
2. Secondary Timeframe: 4 hours
   
3. Tertiary Timeframe: 1 day
   

Important Notes

• Multiples of Base Timeframe: Ensure that the secondary and tertiary timeframes are multiples of the base timeframe. This ensures consistency and accuracy in analysis.
  
• Display Order: It is recommended to display the timeframes in the correct order, with the current timeframe displayed on top of the previous ones.
  
• Customization: You can customize the period length, label size, shapes, and colors to match your preferences.
  
• Market Structure Elements: The indicator tracks key market structure elements such as highs and lows, which are crucial for understanding market trends and potential reversal points.
  
• Trend Summary Table: The included table summarizes trends and provides an overview of the latest market data, helping you make informed trading decisions. The "Efficiency" column shows whether the latest structure is IPA (Inefficient Price Action) or EPA (Efficient Price Action).
  

17 oct.

Notes de version

-Update:
Fix typo for improved readability and default colors to the Settings Panel.