MultiToolBox [Forte64]

7 Okt 2021

MultiToolBox is designed to be an easy to use multi-functional tool hence the name. It was built to eliminate the need for multiple indicators so users with Basic profiles can have one single indicator that’s effective and versatile enough for decision making. It can be used to supplement a user’s existing setup and to confirm or not confirm a decision particularly when there’s an alignment or none thereof.

VERSATILITY AND MULTIPLE TOOLS
MultiToolBox has several trading tools and strategies built into it. First and most evident, it has multiple Moving Average systems built into it. There are six (6) different MAs grouped into two sets. Each set can be independently set to SMA, EMA, WMA, RMA, VWMA or HMA. Users have the option of setting the length of each of the 6 MAs separately.

ELIMINATING TUNNEL VISION
Secondly, MultiToolBox can help eliminate Tunnel Vision to an extent. It incorporates Multi-Time frame Analysis so users, particularly new traders, can make decisions based on inbuilt settings (setting 1 or setting 2) that function on different time-frames without presenting the user with an overload of time-frame settings.

BULLISH OR BEARISH BACKGROUND
Thirdly, MultiToolBox has bullish or bearish setup information presented as background colors i.e. GREEN for bullish setup and RED for bearish setups. These color presentations on the chart may change depending on the selected setting (1 or 2).

Other features are:
BAR COLORS

• Yellow represents a potential top and Purple represents a potential bottom. These vary on chart depending on selected setting 1 or 2.
  White and Black colored bars work similarly as yellow and purple respectively. White and black are however the extremes of yellow and purple.
  

Please note that Purple and yellow need to be turned off before white and black bars can be visible.

TRIANGLES

• 
  Blue triangle (below bar and pointing up) shows an alignment for a possible buy/long opportunity.
  Red triangle (above bar and pointing down) shows an alignment for a possible sell/short opportunity.
  Green (bullish) and Yellow (bearish) double triangles work similarly as Blue and Red triangles above.
  

POTENTIAL TRADE ENTRIES
An alignment of Blue and Green triangles indicates a potentially strong opportunity for buy/long trade entry.
An alignment of Red and Yellow triangles indicates a potentially potent opportunity for buy/long trade entry.

MultiToolBox can be applied to any Price chart regardless of market or instrument and works on all commonly used time frames (1m, 5m, 10m, 15m, 1H, 4H, 1D, 1W and 1M) as well as some other less common ones.


Development/improvement is a continuous thing!

Disclaimer:
Past performance does not guarantee future results. This tool/indicator is for educational purposes. As always you should fully understand there are high risks involved when trading cryptocurrencies and other digital instruments.