Heatmap - Multi-Timeframe Indicators - Alerts

20 Mar 2021

Heatmap - Multi-Timeframe Indicators - Alerts

‌‌‌‌▪ Main features:
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌- 19 Timeframes: 1m, 3m, 5m, 10m, 15m, 30m, 45m, 1h, 2h, 3h, 4h, 5h, 6h, 8h, 10h, 12h, 1D, 1W, 1M
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌- 6 indicators per timeframe
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌- choose specific timeframes for indicators (example - 1 hour)
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌- or choose specific timeframe ranges (example - 1 hour to 1 month)

The general idea is that the higher timeframe signals are stronger than the lower timeframe ones.
When a trend is starting, it is first visible on the lower timeframes.
The more time passes, the more the trend propagates through higher timeframes.

The default settings are meant to show all the available features. You may fine-tune it to your specific needs.
How to choose the timeframe for the chart: use the lowest of the choosen timeframes for indicators.
If the heatmap doesn't display correctly on your device, you may check the Heatmap Theme 🎨 setting.

It doesn't repaint.
"Repaint" version available though - good to check the past history, but very bad for real-time analysis.


▪ Indicators used for trend detection
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌‌‌‌‌‌‌‌‌1. MACD Cross
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌2. Stochastic Cross
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌3. Stochastic Cross and Overbought or Oversold
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌4. Moving Average
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌5. Parabolic SAR
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌6. Heikin Ashi

‌‌‌‌▪ Find the best Heatmap settings with the Strategy Tester version.
The signals generated by the Heatmap are considered to be valid at the bar open.
The Strategy Tester, however, uses the bar close in its calculations.
Therefore, the results may seem to be worse than they can be.
The Profitability, Profit Factor and other stats should be taken into consideration relatively to other configurations of the same Heatmap.

▪ Using a score system to consider a change in trend valid.
Example: consider the signal valid if 65% or more of all indicators (max 6) among all timeframes (max 19) hint at a change in trend.
The % percent value can be inserted in settings.
When using the default settings or when all timeframes and indicators are activated,
the ratio of 100% downtrend or 100% uptrend may be less occuring. Adjust accordingly.
The signals across timeframes and indicators are aggregated to show simple entry and exit signals.

▪ Combined Alerts, to be set to fire once per bar open:

Pine Script®

▪ Note: The initial load may be slow. If something doesn't seem to work, you can try the following:
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌‌‌‌‌‌‌‌‌- wait more time for it to load
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌‌‌‌‌‌‌‌‌- hide & show or remove & add back to chart
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌‌‌‌‌‌‌‌‌- don't add the indicator to chart multiple times in a short amount of time, as you may be rate limited

▪ Related Studies:
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌‌‌‌‌‌‌‌‌- ‌‌‌‌Heatmap - Multi-Timeframe Indicators - Strategy Tester
‌‌‌‌ ‌‌‌‌ ‌‌‌‌ ‌‌‌‌‌‌‌‌‌‌‌‌- Risk Management System (Stop Loss, Take Profit, Trailing Stop Loss, Trailing Take Profit) - it can be connected to Heatmap - Multi-Timeframe Indicators - Alerts


‌‌‌‌▪ Layout example: