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What is the MTF Indicator?
When looking at a chart it is nice to know whether the time frame you are looking at is trading in confluence with others of higher time frames. The Multiple Time Frame Indicator or MTF for short is the perfect way to visualize what higher time framed charts are doing trend-wise. The red and green dots are an easy way to gauge whether your current time frames price trend is moving with or against the overall trend of the underlying.
How to read the MTF Indicator?
As you watch price action move on your charts it is nice to be able to recognize whether or not the trend on your chart is in alignment with the more powerful longer-term chart trends. This can be done by identifying the trends of these higher time frame charts with red and green dots on the lower MTF indicator. Each line of the indicator represents a different higher time frame of the symbol you have pulled up on your chart. Suppose you are looking at AAPL on a 5-minute chart, it is ideal to know what kind of overall trend exists for the stock. The MTF allows you to see the higher time frame chart trends and whether they are lined up for high probability moves or not.
How to trade with the MTF Indicator?
Trading with the MTF Indicator is all about identifying overall trends in price. The stock, ETF, index, currency or any other vehicle you may be trading will have price trends which transcend higher time frames down to the chart you are looking at in any particular moment. The higher the time frames, the stronger the trend will be within the lower time frames. What you're looking for in these MTF lines is the confluence of trends within the higher time frames which will allow you confirmation for direction or non-directional action. Check out the examples below for clarity.
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