TRY THIS INDICATOR 30 DAYS FOR FREE
First 30 days are always free to try. You PAY NOTHING for your trial period and it’s a no obligation trial period. There is no minimum term, if you don’t like it – you can cancel your subscription any time you want.
Try FREE for 30 DAYS
after first month just £23 /month
Your subscription will be processed through Paypal
WATCH THE VIDEO TO KNOW MORE ABOUT
Multi Time Frame Trend Line - Premium Indicator
This premium Multi Time Frame Trend Line indicator is developed by Rize Capital for using with NinjaTrader 8 trading platform. This indicator is developed with a focus to give the user to draw trend lines on any specific time frame here and get an over all picture of the market trend being in any of the specified time frames’ chart. It does also plots broken trend lines, when user drawn trend lines are broken by price movements. Besides, it does plots multiple time frame based EMA lines to provide the user with very important insights on EMA based trends over many different time frames. Besides, it provides over all trend strength with individual trend direction for each specified time frames at a glance. Sometimes, user may need to draw some extra trend lines for various purposes, therefore this indicator has an option to draw extra trend lines so that user can draw as desired, which will not affect any calculation of the indicator. Now lets discuss the details of this popular indicator.
When user will add this indicator to the chart, it will look similar to Image – 1. If NT8 does not have data feed, then it will not plot the trend strength meter (bottom – right corner, pointed by blue right arrow in Image -2), but rest will be plotted. Lets look at different features of this indicator now. It will add two buttons at chart window toolbar named ‘Draw Trend Line’ and ‘Draw Extra Trend Line’ in light blue and golden color respectively, which is pointed by white up arrow in Image – 2. At the top-right corner, you will see current instrument name and time frame of the chart where this indicator is added, which is pointed by pink right arrow in Image – 2. If you change the instrument or time frame or both, it will update automatically as well, to confirm which instrument or time frame you are on now. At the same time, you will see an EMA line plotted, which is pointed by yellow down arrow in Image – 2, to show you the current market EMA based short-term trend of that time frame. On the right side of the chart, you will see few lines with specific time frame labels, which are pointed by green down arrow in Image – 2, which shows different other time frames’ EMA based short term trends being on any chart time frame, so that you can see different time frames’ EMA based short term trends being on any time frame’s chart. At the bottom-right corner, pointed by blue right arrow in Image – 2, you will see ‘Trend Strength Meter’, which will plot arrows of different directions and colors to inform you about that respective time frame’s current market trend strength. We will discuss them later below further.
Now, if you want to draw a trend line, you need to click the button ‘Draw Trend Line’ once, which will change it’s color to golden (shown in Image – 3 with lime green up arrow). After that you can draw trend line on the chart with your mouse. When trend line is drawn, button ‘Draw Trend Line’ will reset it’s color to original (pointed by purple up arrow in Image – 5). An example of drawn trend line on a chart is shown in Image -4, where it is pointed by green down arrow. Every trend line drawn also plots the time frame it is drawn as label at the right of the trend line which is pointed by yellow down arrow in Image – 4. If you want to delete this drawn trend line for any reason, you need to right click with the mouse keeping the mouse cursor on top of the trend line drawn. After the right click, it will show a menu ‘Delete’ (pointed by white down arrow in Image – 6) and then you need to left click once on the ‘Delete’ menu which will remove the trend line from the chart. Point to remember, you can only have one of this trend line drawn on the same time frame at any time . If you need to draw some extra trend lines for other purposes, we have also kept provision for that which will be discussed below later.
Now, if you want to move the position of the trend line, you need to left click once on top of the drawn trend line which will bring two circles (which is pointed by yellow arrows in Image – 7), then you need to left click once again on top of any of the circles and adjust/move the trend line position as you desire. When you are happy with the new position, then you need to left click once more to finish the process.
If you want to draw some extra trend lines for any purpose on the chart, you need to follow almost similar process discussed above, but you will need to left click once on the button ‘Draw Extra Trend Line’, which is pointed by lime green up arrow in Image – 8. Then you can draw extra trend line, move or delete them as you prefer like the process discussed above. Some examples of these extra trend lines are shown with white up arrow in Image – 9.
Now the direction of the main trend line drawn will have an affect on the ‘Trend Strength Meter’ with different directions and colors of the arrow beside respective time frame labels where this main trend line was drawn. This is pointed by blue right arrow in Image – 10. We will discuss more about ‘Trend Strength Meter’ below later for further details to understand it better and how it helps you.
Main trend line drawn in Image – 10, is not visible in Image – 11. But the affect of that trend line on ‘Trend Strength Meter’ is still visible there, which is pointed by light blue right arrow. Point to remember, lower time frame main and extra trend lines drawn are not visible on higher time frames’ chart, but all trend lines drawn on higher time frames’ charts are visible on lower time frames’ charts. That’s the reason why you are not seeing the trend line drawn in Image – 10 in Image – 11, as Image – 11 chart’s time frame is higher than Image – 10’s chart.
Now, as soon as you draw a main trend line on this higher time frame chart, which is pointed by pink up arrow, it will change the arrow color of ‘Trend Strength Meter’ beside that time frame’s label, which is here pointed by lime green right arrow in Image – 12. Extra trend lines drawn on any chart do not have any impact on the overall calculation of the indicator, it is there for you to use for reference or other necessary purposes, you may need. In Image – 13, you can see an extra trend line drawn , pointed by lime green down arrow, which did not make any impact with ‘Trend Strength Meter’ arrow color or directions.
If you now go back to the lower time frame chart, then you should be able to see both that specific time frame chart’s previously drawn trend lines and higher time frames’ drawn trend lines at the same time. But higher time frames’ all trend lines will be plotted in dotted line by default with respective time frames’ labels associated with it, so that you can differentiate between time frames of all trend lines plotted. These higher time frames’ dotted trend lines plotted on lower time frame’s chart is pointed by green down arrow in Image – 14.
For a main trend line drawn, pointing downward, to show a down trend, will be broken when only current market price crosses it from the below only. And when it does, then it will change it’s color to light blue (pointed by lime green down arrow in Image – 15) and an up arrow will be plotted to show where actually this trend line was broken (pointed by red left arrow in Image – 15). As soon as the main trend line is broken, arrow color beside that specific time frame of where this trend line was drawn in ‘Trend Strength Meter’ will change (pointed by white right arrow in Image – 15). For an up trend line drawn, if market price crosses below that from above, it will be broken and a red arrow will be plotted to show exactly where that up trend line was broken. But if current market price crosses above or below the extra trend lines, which is shown within white rectangle in Image – 16, will not make any change on this indicator’s result.
Even if you are on a lower time frame chart and main trend line drawn on a higher time is broken, it will not be visible from lower time frame chart. In Image – 17, you can see a higher time frame main trend line which was visible in Image – 16, is now broken by current market price at the point which is shown by white circle and at the same time color of the arrow of that specific time in ‘Trend Strength Meter’ is also changed, which is pointed by light blue right arrow in Image – 17. But if you now change the chart’s time frame to that specific higher time frame, where the higher time fame main trend line was drawn, you will see that broken trend line with arrow to point where exactly that was broken, which are pointed by green up arrow and white left arrow in Image – 18.
Now, after a main trend line is broken, as there is no main trend line is drawn on that time frame’s chart, you can draw main trend line again which will act normally. In Image – 19, you can see a broken trend line on the chart which is pointed by white down arrow. Now a fresh new main trend line is drawn, which is pointed by yellow down arrow, therefore it will act as the current trend line for that specific time frame’s chart and you can see the change in arrow color in ‘Trend Strength Meter’ which is pointed by green right arrow in the same image.
We have already touched about the various EMA lines at the right side of the current bar, which are highlighted by white rectangle in Image – 20; these are there to show you, at a glance, where the current short-term trends based on EMAs compared to current time frame chart’s EMA based trend. This will give you a good picture of over all EMA based market trends on different other time frames. These are labelled as well to identify the time frames those represent.
In Image – 21, at the bottom-right corner ‘Trend Strength Meter’ is highlighted by light blue rectangle. You can see different time frames’ labels on the left and arrows on the right. Arrows beside respective time frame labels represent the direction of the current trend and how strong that trend is, on those respective time frames. As discussed above, color of the arrow is connected to the main trend line drawn by you to that time frame’s chart, any change to the trend line will impact the arrow’s color. Now to understand how it helps you understanding the market trend is, up or down arrow simply represents up or down trends. Now when it’s golden color, means no current specific trend, as no main trend line is drawn by you on that respective time frame’s chart. It just shows the market’s biasness towards the direction of the arrow. Now when the arrow color is white, it means a trend development is in progress, but does not have enough strength yet. When its red, means strong down trend on that respective time frame and when it’s green, means strong up trend. The more number of arrows have similar red or green, the more the current over all trend’s strength toward that direction.
This indicator currently works on 5 min, 15 min, hourly, 4 hourly, daily, weekly and monthly time frames’ charts. Your current chart time frame is plotted at the top-right corner of the chart which is pointed by pink up arrow in Image – 22. If you are not on chart which are specified above, it will remind you with a text plot on the chart, so that you can adjust the time frame accordingly (pointed by white down arrow in Image – 22).
You can customize the chart’s instrument’s name and time frame’s plot color, which is pointed by pink up arrow in Image – 22, from the indicator’s settings parameters within the white rectangle in Image – 23. Now if you want to change the current time frame’s EMA plot (which is pointed by yellow down arrow in Image – 2) color or it’s period, you can do that from the settings parameters within the yellow rectangle in Image – 24. To customize the other time frames’ EMA plot color (highlighted with white rectangle in Image – 20), you can do that by using parameters within the green rectangle in Image – 25. For changing the color of ‘Trend Strength Meter’ time frames labels’ text color (highlighted by light blue rectangle in Image – 21), you can do so by parameters within light blue rectangle in Image – 26. To customize main, extra and other time frames’ trend lines plot colors and associated time frames’ labels, you can do that from the parameters highlighted within purple rectangle in Image – 27. It is highly recommended not to change any parameter value which are highlighted within red rectangle in Image – 28, for effective and accurate operation of this indicator.
If you still have any query, it is suggested to watch the video tutorial at the top of this page for further clarifications.
All Indicators Bundle
£99 / month
Save money by subscribing All Indicators available in this website. Still you enjoy 30 DAYS FREE TRIAL and if you don’t like it, you can cancel anytime you want.
Professional trader bundle
£149 / month
You get full access to all automated strategies, indicators, member only videos, updates and free bonuses.
Not ready to subscribe yet?
join us for free to explore more
With free account, you can visit different parts of this website. You can get free indicators, strategies, videos and free bonuses. There is nothing to lose with free account.