Moving Average Line compatible with Multi-Timeframe (MTF) "MTFMASmoothedX7". It can display two types of moving averages: the commonly seen step-like moving average and a smoothed moving average that connects step-like closing prices,showing either type in seven lines. Additionally, it displays the difference in pips between the current moving average price and the current rate.

While it's possible to display a pseudo MTF moving average using the standard MT4 Moving Average, the results differ from the actual higher timeframe moving averages. With pseudo MTF moving averages, it might not reach the target price even though it appears to have reached according to the actual higher timeframe chart's moving average. The opposite can also occur. For example, displaying a pseudo MTF moving average of the 1-hour 10SMA on a 5-minute chart calculates the average of the past 120 bars every 5 minutes (though the calculation start time is always 120 bars before, and could be at 0, 5, or 30 minutes, the 1-hour bar always starts calculating from 0 minutes) and writes it on the chart, but the 1-hour moving average line does not finalize until the next hour begins. Naturally, the results vary if the start time and the calculation period are different.

This difference is not negligible

This indicator continues calculating until the higher timeframe is confirmed, showing exactly the same values as the higher timeframe moving average and connecting smoothly to the next closing price. It displays smoothly just like the actual higher timeframe moving average line. If you select steps, it can also be displayed in a step-like fashion.

No more unnecessary thoughts about whether it has reached or not; this indicator eliminates such thoughts and helps you focus on trading.

Upgrade

Upgrade 1.22 (2024.05.09)
- Added a shortcut key to show/hide the moving average lines. Assign your preferred key to "hide key".

Parameters

Moving Average Line 1 Target Timeframe
Specify the higher timeframe you want to display on the first moving average line. If set to the current timeframe, it can be used as a normal moving average line. The second to seventh lines can be changed collectively for each parameter.
If the current timeframe is specified, even if a slope is specified, the smoothing logic will be bypassed, so the load remains the same as a normal moving average line. Please use it with confidence.
Displaying a monthly chart on a 1-minute chart will slow down the processing in MT4. For example, setting the period to 30 will calculate every tick targeting up to 1,296,000 bars towards the end of the month. This indicator tries to display at least one line even if the number of bars exceeds the specified limit, but it cannot display more than the maximum number of bars specified in the options.
- Period
  Specify the calculation period (number of bars).
- Type of Moving Average
  You can choose from "Simple Moving Average (SMA)", "Exponential Moving Average (EMA)", "Smoothed Moving Average (SMMA)", "Linear Weighted Moving Average (LWMA)".
- Apply Price
  You can choose from "Close price", "Open price", "High price of the period", "Low price of the period", "Median price (High + Low) ÷ 2", "Typical price (High + Low + Close) ÷ 3", "Weighted price (High + Low + Close + Close) ÷ 4".
- Color
- Line Type
- Thickness
- Display Shift (Shift)
  You can shift the display position of the moving average line left or right.
- Display Method
  You can choose from "Slope (smoothed)" and "Step (stair-like)".
Parameters of the 2nd to 7th MTF Moving Average LinesBy default, it is set to false, so please set the desired number of lines to true and configure each parameter.
Display [Timeframe] Period when mouse over
When the cursor approaches the current time on the moving average line, it displays the information of the moving average line. This is a countermeasure because tooltips become harder to display when a higher timeframe is set due to the drawing method.
Display format: [H1] S14 = [Timeframe] Initial of Moving Average Type Period
S = SMA, E = EMA, SM = SMMA, LW = LWMA
Display difference in pips
When you bring the cursor close to the current price on the moving average line, '+' is displayed, and clicking it shows the pips difference between the current moving average price and the rate, updated in real-time. Click 'Bid' or 'Ask' on the left side of the difference pips text to switch the reference rate price.If not used, setting it to false will skip the function, so no load will occur.
Even if set to true, if pips are not displayed, no calculation will be done, so no load will occur.
- Constantly display difference in pips
  The difference in pips is always displayed. You can click the text to hide it.In areas where lines are dense, it may be difficult to click, so setting this to true will display it without needing to click.
- Position of the difference in pips (number of bars)
  You can change the text position by the number of bars. Move to the right with a positive number and to the left with a negative number.
- Change the direction of the positive and negative of the difference in pips
  Whether it's the pips from the rate to the moving average line or from the moving average line to the rate, you can change the direction as per your preference with the display of +.
- Display the difference in pips as an absolute value
  If set to false, it shows as a negative number if the current moving average price is lower than the rate.
- Reference price for difference in pips
  Choose the calculation base price from Bid or Ask. The price set here will be the initial setting, but you can also switch by clicking 'Bid' or 'Ask' on the left side of the text.
- Display the name of the reference price
  The text on the right side displays the referenced price 'Bid' or 'Ask'.
- Font size of the difference in pips
- Font color of the difference in pips
  Selecting None will reflect the line color. You can specify a color different from the line color.
Limit the number of bars to draw
- Number of bars to draw
Key to hide MTFMASmoothedX7
Pressing the set key toggles the display/hide of all seven lines.
Use MTFMASmoothedX7
Setting it to false turns off the function.

滑らかに表示できるマルチタイムフレーム移動平均線『MTFMASmoothedX7』