MTF Midpoints

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Overview :
The MTF Midpoints indicator provides comprehensive multi-timeframe analysis by displaying mid points that act as support / resistance. It also comes with the ability to view trend strength across multiple timeframes.

Key Features :

1) Multi-Timeframe Support -
- 1 Minute, 5 Minute, 15 Minute, 1 Hour, and 4 Hour timeframes.
- Each timeframe displays its calculated midpoint level.
- Toggle individual timeframes on/off as needed.

2) Dynamic Trend Calculation
- Calculates trend direction based on configurable lookback period (default: 30 bars).
- Identifies swing highs and lows to determine trend changes.
- Computes midpoint levels as the average between current swing high and low.
- Tracks price action relative to midpoint to gauge trend strength.

3) Visual Elements -
- Colored Lines : Each timeframe displays as a distinct colored line.
- Fill Areas : Main timeframe shows colored fills above and below midpoint.
- Info Table : Real-time summary of all timeframe data with trend percentages.

4) Customization Options -
- Colors : Individual color settings for each timeframe.
- Display : Adjustable line width, label sizes, and positioning.
- Labels : Toggle price display in labels, customize text color and size.
- Info Table: Configurable info table with trend strength indicators.

How It Works :-
The indicator uses a proprietary algorithm that:
1. Monitors price action over a specified lookback period.
2. Identifies trend direction changes based on new highs/lows.
3. Calculates dynamic support/resistance levels (midpoints).
4. Tracks closes above/below midpoint to determine trend bias.
5. Displays trend strength as a percentage in both table and candle colors.

Trading Applications :-
- Confluence Analysis : Identify where multiple timeframe midpoints align.
- Support/Resistance : Use midpoints as dynamic S/R levels.
- Trend Assessment : Gauge trend strength across different timeframes.
- Entry/Exit Points : Look for price reactions at key midpoint levels.
- Risk Management : Use midpoints to set stop losses and profit targets.

https://www.tradingview.com/x/wCS8hidn/


Disclaimer :
This indicator is for educational and analysis purposes. It does not constitute financial advice. Always conduct your own research and consider your risk tolerance before making trading decisions. Past performance does not guarantee future results.

16 jam yang lalu

Catatan Rilis

New Feature Added:

Price Position Column:
Shows whether the current price is "Above" or "Below" each timeframe's midpoint

What the New Column Shows:
"Above" - Current close price is above the timeframe's midpoint (colored in blue by default)
"Below" - Current close price is below the timeframe's midpoint (colored in orange by default)

Technical Implementation:
For each timeframe, the script compares close > midpoint to determine position
Color coding helps you quickly identify bullish (above) vs bearish (below) positioning
The position updates in real-time as price moves relative to each timeframe's midpoint.