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Free Multi TimeFrame Trend Line - Free Indicator
This FREE for LifeTime NinjaTrader 8 indicator is one of the most popular indicators in the market. This is the free version of our premium “Multi Time Frame TrendLine” indicator which has additional features. With this amazing indicator you can draw Trend Lines on different Time frames of the same instrument and you can see overall market trend at a glance without changing the chart time frame. This indicator can be used on any instrument. But we recommend users to use it to draw TL on 15 min, Hourly, 4 hourly, daily, weekly, monthly and quaterly time frame charts. If you don’t need all of the TF trend lines, you can skip any- its up to you which one is required for your trading and investment strategy. As this indicator is completely Free forever, you can subscribe it without any payments to make.
Every trend line drawn also plots label of TF where this trend line is drawn and with price labels at the right edges, like Image -2, which are shown with red Up and Down arrows. This indicator also plots an EMA line to provide you with current market trend along with trend lines (marked in Image -3). If you change the TF of the chart, EMA line plot will adjust accordingly. Now, its impossible to keep looking at the charts 24/7, that’s why when any of the Up Trend Line breaks, it will stop plotting further which is shown with red left arrow and will plot a down red arrow above the bar which broke the trend line (marked with white circle in Image -4). And for a down trend Line break, it will plot Up Blue arrow and will stop plotting the trend line which are marked in Image -5.
When you want to draw a trend line, you need to click on the “Draw Trend Line” button at the top of the chart window, which will change its color like Image -6. Then with help of mouse cursor you can draw trend line anywhere in the chart as shown in Image -7. Now to start drawing the trend line, left click on the starting point on the chart and then release the left click. Then move your mouse curser to the direction and left click where you want to place the second point of the trend line. Now, all trend lines keeps drawing like a ray on right side; therefore you don’t have to extend it, it will automatically extend itself as time passes. If you want to change the direction of the trend line for any reason, you can simply bring your cursor on top of left most point of the trend line (shown with up arrow in Image -8) and when the cursor head changes as shown in the picture, left click on the left most corner point which will grab the left corner of the trend line, then you can adjust the direction of the trend line as you required. But to remember, left click once to grab, then release the click. Then move as you required and left click again to plot the left corner of the trend line when you are happy with the direction. Now, if you just want to move the trend line parallelly, you can bring your mouse cursor anywhere on top of trend line and it will change the cursor point like shown in Image -9, left click and release the click. Move the trend line anywhere you like, but this time it will move parallelly compared to its previous position and direction. When you are happy with its new location, left click the mouse and that will release the trend line to its new location.
For any reason, if you need to delete any trend line; then you can simply right click on the trend line which will show “Delete” option like Image -10. You just need to left click on “Delete”, which will delete the trend line from the chart. As we discussed about broken trend line above, broken trend lines are plotted with dotted blue line by default; like Image -11, but if you want you can change the color of broken trend lines depending on your platform skin or chart colors, you can do that, but that will be discussed below in settings section. Now very important point to remember, higher TF trend lines are shown on lower TF charts, but lower TF trend lines are not plotted on Higher TF charts (Image – 12) – as lower TF trend lines does not have significant impact on higher TF market trend. Now, if any other higher TF trend lines are broken while being on a lower TF chart, it will not break as Trend lines are broken when chart TF and Trend line TF matches (shown with red down arrow in Image -13).
If you want to change the color of EMA line plotted on your chart, you can do that from settings’ “EMA Plot” option shown in Image -14 and highlighted with red rectangle. Depending on your chart, you may want to change Font and it’s size for the trend line labels. You can change it through “Trend Line Font” text parameters highlighted in Image -15. Now to customize the colors of trend lines, fonts, other TF trend lines and broken trend lines, you can adjust and customize plots from the section shown within red rectangle in Image – 16.
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