#technical
#subchart
#technical
#subchart
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The Higher Timeframe Indicator (Oscillators) allows you to display MACD, RSI, and Stochastics from the same or higher timeframes as the applied chart. This tool is useful for simultaneously viewing technical indicators across multiple timeframes, enabling you to gauge the overall market trend using long-term indicators before making entry decisions on shorter timeframes.
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Usage scenarios
Confirming trends indicated by higher timeframes
When the trend direction displayed on the current chart timeframe aligns with that of a higher timeframe, it is often considered more reliable and sustainable, making it a useful guideline for trading decisions.
The Higher Timeframe Indicator (Oscillators) allows you to utilize RSI, Stochastics, and MACD from higher timeframes. If these technical indicators indicate the same trend direction, it can be regarded as an even more dependable trend.
Targeting trend reversals in higher timeframes
When technical indicators on a higher timeframe indicate a trend reversal, you can use lower timeframes to pinpoint entry opportunities. For example, if a higher timeframe shows signs of transitioning into an uptrend, you might consider buying on pullbacks observed in a lower timeframe.
Using as a filter to determine whether to trade
The Higher Timeframe Indicator (Oscillators) can be used to identify situations where trading should be avoided. For example, if the technical indicators on a higher timeframe show a trend direction that differs from the current chart’s timeframe, or if the higher timeframe RSI indicates extreme values, you may decide not to trade. This approach helps to refine entry decisions by focusing on when not to enter the market.
The Higher Timeframe Indicator (Oscillators) is ideal for trading strategies that prioritize larger trends suggested by oscillator-based technical indicators. If you rely on higher timeframe indicators for your analysis, we highly recommend giving it a try.
How to install
To use the Higher Timeframe Indicator (Oscillators), follow the steps below to download and install it.
Step 1
Click the button below to download the indicator for MT4/MT5.
Step 2
Click File > Open Data Folder in the top menu of MT4/MT5.
Step 3
In the data folder, double-click the MQL4 or MQL5 folder.
Step 4
In the MQL4/MQL5 folder, double-click the Indicators folder.
Step 5
Save the Higher Timeframe Indicator (Oscillators) in the Indicators folder.
Step 6
Go back to the MT4/MT5. Right-click Indicators in the Navigator, and click Refresh.
Step 7
In the Navigator, click the + icon next to Indicators. Find the Higher Timeframe Indicator (Oscillators), then either double-click it or drag it onto a chart.
Step 8
In the indicator settings window, customize the settings on the Inputs tab according to the How to set up page, then click OK.
Step 9
The Higher Timeframe Indicator (Oscillators) is applied to the chart and the technical indicators will be displayed in the sub window.
How to set up
After applying the indicator to the chart, set the parameters according to your style.
Step 1
First, open the Inputs tab.
Step 2
Set the parameters as follows.
①MACD display
Select ON or OFF to display or hide MACD.
②Timeframe
Select the timeframe for the MACD to be displayed. If you select "current," it will be the same as the current chart.
③Short-term EMA
Set the calculation period for the short-term moving average for MACD.
④Long-term EMA
Set the calculation period for the long-term moving average for MACD.
⑤Signal
Set the calculation period for the signal line of MACD.
⑥Applied price
Select the price to use for MACD calculation.
Close price
Open price
High price
Low price
Median price: (high price + low price) ÷2
Typical price: (high price + low price + close price) ÷3
Weighted price: (high price + low price + close price×2) ÷4
The Higher Timeframe Indicator (Oscillators) only displays technical indicators for the same or higher timeframe as the chart with the indicator. Data will be hidden if a lower timeframe is selected.
①RSI display
Select ON or OFF to display or hide RSI.
②Timeframe
Select the timeframe for the RSI to be displayed. If you select "current," it will be the same as the current chart.
③Period
Set the calculation period for RSI.
④Applied price
Select the price to use for RSI calculation.
Close price
Open price
High price
Low price
Median price: (high price + low price) ÷2
Typical price: (high price + low price + close price) ÷3
①Stochastics display
Select ON or OFF to display or hide Stochastics.
②Timeframe
Select the timeframe for the Stochastics to be displayed. If you select "current," it will be the same as the current chart.
③%K period
Set the calculation period for %K.
④%D period
Set the calculation period for %D.
⑤Slowing
Set the value to use for %K smoothing.
⑥Applied price field
Select the price pair to use for Stochastics calculation.
Low/High: high and low prices of the period
Close/Close: the first close price and the last close price during the period
⑦Moving average type
Select the type of moving average to use for Stochastics calculation.
Simple: simple moving average
Exponential: exponential moving average
Smoothed: smoothed moving average
Linear Weighted: linear weighted moving average
RSI/Stochastics and MACD cannot be displayed in a single subwindow. To display all three technical indicators, you need to apply two Higher Timeframe Indicators.
Likewise, you can't switch to MACD after displaying RSI/Stochastics. To change from RSI/Stochastics to MACD, reapply the indicator to the chart.
