Analysing charts with many indicators on multiple time frames can be stressful. So how about having a clear-cut visual overview of the current trend? Let`s say your trading decisions are made on the 10 minutes chart, while you still want to see the hourly and daily trend status as confirmation. This short article shows you how to code such an indicator – we call it the Multi Time Frame Trend Visualiser.
Practical Example: Carbon Future
The following chart shows the carbon future on a 10 minute basis. Below the chart you can see the Multiple Time Frame Trend Visualiser at work: The three lines show the trend status of the chosen chart time frame (10 minutes), the hourly and the daily period. To keep it simple, we used an SMA with 100 periods to define the trend. This way, you are always informed what is happening on higher time frames which provides you a better overall perspective.
Equilla Code for Multi Time Frame Trend Visualiser
Now let us take a look at the Equilla code. As mentioned before, we use an SMA here, but of course you can insert any other trend criteria you prefer here.
- In lines 5-7 we define our trend criteria – here we stick with the SMA. We use the data1 function to call up different time frames like hourly and daily (see also here).
- Lines 9-14 assign colors based on each time frame – red (price below SMA) or green (price above SMA)
- In lines 20-22 we use the function calles pricemarkeralignaxis to draw text labels for our indicator.
That`s it! If you have any suggestions or if you are interested in the code, please leave a comment 🙂
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