Episode 24: Display the directions of the three timeframes on the 10-pip bar SL_TFT
ShenLong Lab (Shenron Lab) is the dragon.
For first-time viewers, please allow me to introduce myself a little.
As a active trader who consistently earns monthly profits with custom-made indicators, I have developed over 1,000 indicators and automation tools to date.
ShenLong Lab's second release, "Market Compass" item number 9
“SL_TFT (Triple Frame Trend)”
has been released.
This time, I will talk about why I created this item and tips for checking the direction of higher timeframes in MT4/MT5.
Is your entry aligned with the higher timeframe?Even if the 1-minute chart is moving up, if the 5-minute and 15-minute charts are pointing down, the entry goes against the higher timeframe.
A single chart cannot reveal the direction of the higher timeframe.
Personally, before entering, I would switch timeframes to confirm the direction of the higher timeframe.
Things you can do with standard features- Switch using the timeframe buttons to confirm the higher timeframe's direction, then return
- Place charts with different timeframes side by side for comparison
- Overlay the higher timeframe's moving average onto the current chart with matching period
All of these involve switching or comparing.
Each time, your eyes are drawn away from the chart.
The directions of the three timeframes can be seen on the right edge of the current chart.
That is why I created SL_TFT.
From here on, I will introduce how to use SL_TFT in a video.