UsageWhen trading, you probably have several windows open next to each other, different products, different time frames. Or, you have the same product but in different timeframes to see how it performs.
I wrote this indicator so I can see for a given product, how it behaves in the different timeframes available by MetaTradre 4. It has three different lines to express the following information:
- The trend for a given timeframe, blue arrow means bullish, red arrow means bearish.
- The pips change for a given timeframe, blue text means bullish, red text means bearish.
- The standard deviation for a given timeframe, red text means that the timeframe movement is higher thatn the volatility, otherwise black.
Once attached, a panel will be drawn in the lower left corner as in the following screenshot for EURUSD:
You may see, that the daily trend for example is bullish. And that the hourly movement in pips is higher than the volatility, thus the STD value for hourly timeframe is painted in red.
To download, use the following links:
1. The indicator, to be placed and compiled in the indicators folder - Indicator.
2. The common library, to placed and compilied in the common folder - Library
Compile and attached to your product.
For any queries, don't hesitate to contact me.