MultiTimeframe Momentum Labels
If momentum trading and breakouts are your cup of tea, this incidator is a must have. Review key momentum trading states on 14 different timeframes. Make sure you can see with a single glance when everything aligns.
Multitimeframe confirmation is the number 1 secret to trading gurus like Mark Minervini, Jessie Livermore, William O'Neil and John Carter.
With this indicator you can catch explosive moves like never before.
PRODUCT INFO
WHAT IT DOES
The script calculates and displays information for different important indicators based on multiple timeframes. There are 14 timeframes, which can be fully customised ( aka they can be defined from the settings of the indicator).
- Line 1 - Squeeze Pro on various timeframes. The indicator has 4 states.
- X means there is no squeeze
- White dot if there is a wide squeeze
- Red dot if there is a normal squeeze
- Orange dot if there is a tight squeeze
- Line 2 - Momentum of the Squeeze pro with Arrows pointing to direction.
- Line 3 - ADX conditions for momentum, something like the 10x indicator from SimplerTrading. Here there are 3 main conditions and 1 additional state.
- Green - raising momentum
- Orange - choppy momentum
- Red - falling momentum
Additionally: If there is also confirmation with volume (aka volume for last bar on this timeframe is over a certain treshold (treshold is customisable in settings), then we get a blue dot for the timeframe).
- Line 4 - The 1day change of the ADX . Working the same way as the momentum, we have 5 states:
- Cyan indicating acceleration of momentum
- Blue indicating deceleration of momentum
- Red indicating acceleration to the downside
- Yellow indication deceleration to the downside.
- Gray as an option which is when the ADX is small, hence the change is not important.
- Additionally: The indicator might fill with a Blue or Orange dot. Blue indicates very bullish conditions /based on backtested data and best practices/, Orange indicate favourable conditions.
- Additionally: The indicator might fill with a Blue or Orange dot. Blue indicates very bullish conditions /based on backtested data and best practices/, Orange indicate favourable conditions.
- Line 5 - Evaluates MTF for various EMAs. Green indicates bullish stacked EMAs and Red indicates Bearish stacked EMAs. Gray indicates chop.
- Additionally there are 2 signs Plus + and Minus –. These appear when there is stacking over 5 EMA timeframes (8,21,34,55,84). If the stacking happens only on the 8,21,34 then there will only be coloring without emojis.
HOW TO USE IT
Generally, experienced trades use MTF analysis to confirm their trades. The timeframes depend on the style and setups that they use but for instance breakout traders who trade on the Daily look for confirmations on the Weekly timeframe . The analysis is super helpful when you see that the stock shows signs of confirmation on multiple timeframes. Just as an example, as a squeeze trader, you might want to see lower timeframes, mid timeframes and large timeframes squeezes (when the lower fire, they will ignite the mid and the higher) - potentially resulting in a very very big move.HISTORY AND CREDITS
This script has been inspired mainly by the MTF labels from Simpler trading community. We have further developed the idea by implementing our own indicators and further adding information read from various books like teachings from Mark Minervini, Charles Le Beau and many CMT gurus.
- Line 1 - Squeeze Pro on various timeframes. The indicator has 4 states.
ACCESS INFO
For Tradingview:
After you have purchased the indicator have to send us your TradingView username in order to get access.
ThinkorSwim (available, but separate):
Please send us an email and if you would like a ThinkorSwim version of this script. ThinkorSwim version is sold separetly from the TradingView version of the script and takes 5 days of delivery.
TradingView Product
Link to TradingView script
DELIVERY
After payment is made, access to the script will be given within 2 hours