Stochastic Multi-Timeframe Indicator

Related: Multi-Timeframe Moving Average Indicator (v03) - another powerful indicator for MetaTrader 5 traders.

Stochastic Multi-Timeframe Indicator This Stochastic indicator can be applied to any timeframe, higher or lower than the current chart's timeframe. You can use all the usual parameters of the built-in iStochastic indicator. The only extra setting is the second timeframe used as input for the calculations. When the indicator is applied to a timeframe lower than the current chart's timeframe, it is not possible to display all values. In this case, depending on the price type chosen, it will use a different approach to provide the most appropriate value. Two examples: 1. timeframe_1=5 minutes, timeframe_2=1 minute, calculations based on Close price series: For any bar on timeframe_1, the indicator will show the latest bar of timeframe_2 with a Close time before or at the Close time of the bar on timeframe_1. This applies to bars that have been closed as well as the current bar that is still open. 2. timeframe_1=5 minutes, timeframe_2=1 minute, calculations based on Open price series: For any bar on timeframe_1, the indicator will show the latest bar of timeframe_2 with an opening time before or at the Open time of the bar on timeframe_1. This applies to bars that have been closed as well as the current bar that is still ope

Also recommended: Multi-Timeframe Relative Strength Index (MTF RSI) Indicator for MT4/MT5 - similar indicator with strong performance on MetaTrader 5.

n. The logic here is that if you choose to calculate your indicators on the Open time of a bar, you will probably also trade when a new bar opens. In that case, at the Open of a new 5-minute bar, you will only know the Open of the first of the five 1-minute bars that are part of it. The Opens of the second to fifth 1-minute bars are therefore ignored in the calculations. You can mix any timeframe with any other timeframe, even if they are not in sync, e.g., timeframe_1 = 5 minutes and timeframe_2 = 12 minutes. The indicator will ensure they stay synced. The method works similarly to the examples above. Refer to the MACD Histogram MTF MC indicator for a more visual explanation in an Excel sheet. When switching between timeframes, allow some time (a few seconds) for the price data to be loaded. If the indicator is not displayed, refresh the chart manually. Look in the source code to switch on/off error messages: bool ShowErrorMessages = false; // turn on/off error messages for debugging Update history: 2010 09 26: v04 - Improved display of values on timeframes smaller than the chart's timeframe. - Set buffers to EMPTY_VALUE instead of 0 after: if(convertedTimeYou may also like: Multi-Timeframe MACD Histogram Indicator (v03) - excellent alternative for indicator users on MetaTrader 5.

• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.