Forex4Live Multiple Timeframe indicators
Once you understand the meaning of timeframe in the previous article, you are indeed expected to find and use a timeframe that suits your style and trading system. However, this does not mean that you should not consider Price Action (PA) on a timeframe different from your trading situation. There is a potential advantage by considering some timeframes before taking a position. The use of some common timeframes is called multi timeframe.
Most significant is that some timeframes provide a context for trading signals generated at one timeframe and increase the probability of a trading signal. This is especially true for graphs with higher timeframes. Graphs with lower timeframes can also be used to find the entry level and exit more precisely.
The multi timeframe you consider should vary by a factor of 3 to 5. In other words, the timeframe should be three to five times larger or smaller than your main timeframe that you use for trading. So if you’re trading in a 30-minute chart, you can consult a 10 minute (three times smaller) graph for better entry and exit levels and a 2 hour graph (four times larger) for the wider context. The reason for this is that using a different timeframe should provide more information without being too far away from your actual trading timeframe. In the example, a 10 minute chart will give you information about price action (PA) in every 30 minute bar, while a 20 minute chart will not show this action because the 20 minute and 30 minute graphs will be very similar.
While multi timeframes are useful to increase your trading probability, it should not be used to violate your trading rules. You should not, for example, switch to a higher timeframe just to find an excuse not to cut loss-losing positions that violate your own trading rules.
Thus, the use of multi timeframe is more aimed at finding entry and exit levels at smaller or lower timeframes.
Forex Lines 2014 using the multiple time frame forex strategies
Multi indicator strong (indicator sell strong/buy strong)
Strong Buy/Sell Forex Signals for big profit
Buy = Multi tf indicator (Buy Strong Only) + Buy Signal at 15m/30m
Exit Buy = Multi tf indicator (sell Only) or exit in the red zone at 15m/30m
Sell = Multi tf indicator (Sell Strong Only) + Sell Signal at 15m/30m
Exit Sell = Multi tf indicator (buy Only) or exit in the blue zone at 15m/30m
Buy/Sell Forex Signals
Buy = Multi tf indicator (Buy Only) + Buy Signal at 15m/30m
Sell = Multi tf indicator (Sell Only) + Sell Signal at 15m/30m
How to use it with Forex Robot / Expert Advisor (Forex Lines EA)
Buy = Multi tf indicator (Buy Strong Only) + Run EA at 5m/15m/30m on a long position only
Exit Buy = Multi tf indicator (sell Only)
Sell = Multi tf indicator (Sell Strong Only) + Run EA at 5m/15m/30m on a short position only
Exit Sell = Multi tf indicator (buy Only)