MTFT Reversal Lines, TheStrat Suite (5of5)

13 Eyl 2022

[u]Multi Time Frame Tools[/u]

Multi Time Frame Tools (MTFT) is a suite of scripts aimed to establish a standard timeframe-based color scheme. This can be utilized to overlay different timeframes calculations/values over a single timeframe. As one example, this would allow to observe the 5-month moving average, 5-week moving average, and 5-day moving average overlaid over each other. This would allow to study a chart, get accustomed to the color scheme and study all these at the same time much easier.

All indicators calculated using the below specific timeframes as input, will always use the color scheme outlined below. This is to get you in habit of recognizing the different timeframes overlaid in top of each other. These can be personalized.

Longer TF analysis.
Yearly - Black
Semi-Annual - Yellow
Quarterly - White
Monthly - Maroon
Weekly - Royal Blue
Daily - Lime

Shorter TF analysis.
4 hour - Fuchsia
1 hour - Orange
30 min - Red
15 min - Brown
10 min - Purple
5 min - Lilac

All color coordination is able to be modified in either the “Inputs” or “Style” section. If you need to make changes, make sure to select “Save as Default” on the bottom right of the settings menu.

Recommended Chart Color Layout
I played around with color coordination a lot. The final product was what worked best for me. I personally use the following chart settings to accent all available TF colors.
-> Click on the settings wheel on your chart. -> Click on “Appearance”.
Background - Solid -> On the top row pick the 6th color from the left.
Vert Grid Lines and Horz Grid Lines -> On the top row pick the 7th color from the left.
You may of course change these and the indicator line colors as you like.

Adding indicator to Chart
-> Open the TradingView “Indicators & Strategies” library, the icon has “ƒx”. -> All premium scripts will be located under “Invite-Only Scripts” -> Click indicator to add to your chart.

[u]MTFT TheStrat Suite (5 Scripts)[/u]
Rob Smith is the creator of ‘TheStrat’ trading strategy. For ‘TheStrat’ I have put together a suite of 5 premium scripts that combined will offer people interested in learning ‘TheStrat’ a cleaner learning process. For 2 of the 5 scripts specifically, the MTFT approach of overlaying multiple longer timeframes(TF) over a shorter TF selected as a display cannot be utilized. The other 2 scripts will have full MTFT functionality and they are my personal favorite. I will be providing very basic info to utilize this script; it is up to you to dive deep into learning this strategy. I am not an expert with the tool or a financial advisor. As with all aspects of life, I recommend you research, learn, discern and practice extensively in order to become a master.

1. MTFT Patterns Pro/Noob
2. MTFT Full Time Frame Continuity Table
3. MTFT Last HML wOpen
4. MTFT Actionable Signal Targets
*5. MTFT Reversal Lines

MTFT Reversal Lines, TheStrat Suite (5of5)
This script will plot the line at the point that the reversal was formed for multiple timeframes. Often times price retraces to these points before making more explosive moves in continuation of the reversal direction.
The script has the following features.
Six user selected time frames per script instance can be enabled/disabled. Timeframes include: Yearly(Y), Semi-annually(S), Quarterly(Q), Monthly(M), Weekly(W), Daily(D), 4 hour, 1 hour, 30 min, 15 min, 10 min, and 5 min. Image below shows the Weekly TF selected, and only the W, Q, M, and W are enabled. I’ve included some comments on basic observations.

2. Auto hide lower timeframe calculations. Auto Hide feature will hide smaller TF calculations when a larger timeframe is selected as the display TF. Example, when the Daily timeframe candlestick selected the 4 hour and smaller calculations are hidden because they produce irrelevant results relative to the selected timeframe. If a lower TF is selected such as the 30 min candlestick, the previously hidden timeframes are now displayed. This allows easier study as you change between displayed timeframes.
This script works best in conjunction with ‘MTFT Last HML Band wOpen’. In the image below I have the W candlestick selected, along with the Q HML Lines, and the Q Reversal Line shown. It shows you a clearer picture of how price moves on a TheStrat continuation CS and after a TheStrat reversal point is made. This lets you break into the fine details of what happened inside Quarter 1, 2022 and after the reversal point was formed.

[u]IMPORTANT NOTE for TradingView admin:[/u] One of the lessons I would consider most important in attaining clarity regarding trading, is “TheStrat” by Rob Smith. His lesson on “actionable signals” is something that can be applied to any strategy. For this reason, I am including “MTFT TheStrat Patterns Pro” script in all images that will depict confluence for a better trade selection.
Example using TheStrat Pro MTFT with this indicator.
Look for a “TheStrat actionable signal” or a “TheStrat Reversal signal” on a smaller timeframe that has an instance of this indicator on a larger timeframe calculation that is in range of the candlestick that formed your actionable signal. This means that the indicators plot you are observing must be above the low and below the high of the candlestick that is the actionable signal/reversal signal. Image below shows what this would look like with this indicator.
The Image below shows what this would look like with this indicator. The selected candlestick is the 3-day, it shows a 2U-1-potential 2D Reversal pattern and the Quarter Reversal Down line in range. This actionable signal is meant to be played for SHORTS. If the low is breached, you would enter a SHORT position from the low of the inside candlestick. For targets you would look at the previous pivots, for this example all targets were hit. This won’t always play out so nice and clean, but given that there is so many stocks and so many signals this is just a thought to improve the quality of the signal as it has extra confluence.

2 Kas 2022

Sürüm Notları

Minor bug fix on labels and selection buttons on settings.