Multi TimeFrame Indicators Forex for MT4/MT5

Most likely you have noticed more than once that the names of some technical indicators contain the abbreviation MTF? For example, MTF IB SCAN...
But I do not think that many people know and most probably have not even thought about what the abbreviation MTF means. Although, it is one of the most useful types of indicators in trader's work!

So, let's find out what are the MTF indicators, the types of MTF indicators, features that distinguish them from other instruments and their use in strategies...


MTF Indicators. Practical application
I think many people will immediately guess what the acronym in MTF means,
Yes, MTF indicators, these are multi time frame tools that allow you to collect data from those TFs, that are specified in the settings of the indicator, on one timeframe.

It means it is not necessary to switch timeframes manually to see how the price behaves and confirm the signal, all information is immediately available, which is especially convenient for scalpers and pipsers.

The origins of MTF
The founder of the Multi Time Frame indicators is certainly Alexander Elder with his three screens. In fact, it is a strategy that is still used by most experienced traders.

Its essence is that the confirmation of signals should be looked for on higher timeframes while trading on a certain TF.
Types of MTF indicators
Yes, even those who have studied trading at least for a while probably noticed that not all MTF indicators are the same. I personally know at least three types.

Consider MTF indicators for MT4...

Signal
Signal indicators include tools which in one way or another attract trader's attention to the situation on the market. These may be arrows, histograms, points, alerts and pop-ups.

That is, the tool analyzes several timeframes using its algorithms, and when it finds a match in all analyzed timeframes, it gives a signal.

Examples of the signal MTF indicators:

CCI Mtf Advanced Alerts indicator: signal arrow-histogram oscillator based on the world famous CCIarrow indicator. This tool can be found here;
Price Action AHA: a pattern indicator for MT4. Funny but accurate signals in the form of smiley faces. The tool can be found here;
The 3 Level Semafor indicator: it evaluates several TFs and gives signals of different strengths. This strategy is more detailed;
XO-mtf & alerts: from the excellent strategy FX Max with XO. By the name it is clear that the strategy, although adapted for binary options, but created for the Forex market.
 
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