This Multi Time Frame (MTF) BrainTrend indicator has all features from (BrainTrend Indicator all-in-one edition). The only difference is that this version has Multi Time Frame (MTF) feature.
With this MTF version BrainTrend, you can apply any time frame of BrainTrend to your current chart.
As long as the selected MTF time frame is greater than the chart time frame.
Some examples of putting multiple time frames into use would be:
A swing trader, who focuses on daily charts for his or her decisions, could use weekly charts to define the primary trend and 60-minute charts to define the short-term trend.
A day trader could trade off of 15-minute charts, use 60-minute charts to define the primary trend and a five-minute chart (or even a tick chart) to define the short-term trend.
A long-term position trader could focus on weekly charts while using monthly charts to define the primary trend and daily charts to refine entries and exits.
Source: http://www.investopedia.comBrainTrend is a very popular Indicator, the calculation is based on Stochastic Oscillator and Average True Range (ATR).
BrainTrend will provide a buy signal with a big Cyan dot when buy conditions are met. The value of the big cyan dot is the initial stop for the position. BrainTrend will provide a sell signal with a big Magenta dot when sell conditions are met. The value of the big dot is the initial stop for the position.
It shows trend direction by colors, when the market changes to or stays in an up-trend, the bars become or remain Cyan. When the market changes to or stays in a downtrend, the bars become or remain Magenta. When the market goes sideways or is not strong on either side, the bars become or remain Cyan.
Cyan Dots below the lows of the bars indicate two things:
(1) the market is in an up-trend;
(2) the values of the Cyan Dots are the protection stops or the profit target stops (if the position had profit) for the long position.
The Magenta Dots above the highs of the bars indicate two things:
(1) the market is in a down-trend;
(2) the values of the Magenta Dots are the protection stops or the profit target stops (if the position had profit) for the short position.
Entry points are also effected by the settings of the time frame. The longer the time frame, the higher the accuracy. The time frame controls the trading frequency too.
Generally, use the longer time frame to determine the direction that you want to enter; use the shorter time frame to pinpoint the entry.
The trading tips revealed here are intended to enhance your winning probability. Any trading rules, however, have certain limitations based on which market you refer to, what kind of confirmations you are using, what time frame is being used, and so on. You need to test the rules with your specific market before applying to real trading. To apply BrainTrade indicators with consideration of different market conditions is very important.
BrainTrade is ideal for both day trading and position trading. BrainTrade help you to focus on the most essential information on markets. BrainTrade indicators provide market directions, provide trend and stops, provide buy and sell signals. With BrainTrade you now have immediate access to the river of information about the major trend changes, buy and sell signals, and stops for large number of market symbols. BrainTrade is revolutionizing the very nature of trading. People have lived for so long without information at their fingertips that they don’t realize what they’re missing.
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