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0 item(s) - FreeCustomization and Conversion for: MetaTrader(MT4, MT5), Thinkorswim, NinjaTrader, MultiCharts, Tradingview, Prorealtime, SierraChart, etc.
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Multi time frame MTF Trend Magic for Tradingview
(This is a Permanent access license, please provide your Tradingview ID along with your payment.
Trend Magic is a very popular Indicator, the calculation is based on Commodity
Channel Index (CCI) and Average True Range (ATR).
This indicator is intended to indicate the true direction of the trend, replacing false signals with true ones.
### Detailed Instructions for MTF Trend Magic Indicator Inputs
#### 1. **Timeframe (`tf`)**
- **Purpose**: This input allows the indicator to calculate the trend from a higher timeframe than the current chart. It is the core of the multi-timeframe (MTF) functionality.
- **How to Use**:
- The default setting is `30` (which stands for 30 minutes).
- You can change it to any valid timeframe supported by TradingView. Examples:
- `'1'` for 1 minute
- `'5'` for 5 minutes
- `'15'` for 15 minutes
- `'30'` for 30 minutes
- `'60'` or `'1H'` for 1 hour
- `'240'` or `'4H'` for 4 hours
- `'D'` for daily
- `'W'` for weekly
- **Why adjust?**:
- If you are trading on a 5-minute chart but want to see the trend as per the 1-hour chart, set the timeframe to `'60'` or `'1H'`. This helps align your trades with the higher timeframe trend.
- A higher timeframe (like daily) will give you a broader trend, which is less noisy but slower to react. A lower timeframe (like 15 minutes) will be more reactive but might generate more false signals.
- **Tip**: Choose a timeframe that is one or two levels above your trading chart. For example, if you trade on 15 minutes, use 1 hour or 4 hour for the trend.
Critical Notes:
A higher tf reduces false signals but increases lag.
Mismatched timeframes (e.g., 1-min chart with W) may show outdated signals.
#### 2. **CCI Period (`CCI`)**
- **Purpose**: The CCI (Commodity Channel Index) is used to determine the direction of the trend. The CCI period setting adjusts the number of bars used to calculate the CCI.
- **How to Use**:
- The default value is `15`.
- **Lower values (e.g., 5-10)**:
- Make the CCI more sensitive to price changes.
- Results in more frequent trend reversals and signals.
- Suitable for short-term trading in volatile markets.
- **Higher values (e.g., 20-40)**:
- Smooth out the CCI, making it less sensitive.
- Results in fewer reversals and more stable trends.
- Suitable for longer-term trading and avoiding market noise.
- **Adjustment Guidance**:
- If you notice the trend line changing colors (from green to red or vice versa) too often, try increasing the CCI period to filter out noise.
- Conversely, if the trend line is too slow to react to price changes, reducing the CCI period may help.
Pro Tip:
When price chops sideways, increase CCI to avoid false reversals.
In strong trends, decrease CCI to capture early exits.
#### 3. **ATR Period (`ATR`)**
- **Purpose**: The ATR (Average True Range) measures market volatility. The ATR period sets the number of bars used to calculate the ATR, which in turn determines the width of the buffer bands (the trend lines).
- **How to Use**:
- The default value is `5`.
- **Lower values (e.g., 3-5)**:
- The ATR will react quickly to recent volatility, resulting in tighter bands.
- The trend lines will be closer to the price, making the indicator more sensitive.
- Suitable for low volatility or short-term trading.
- **Higher values (e.g., 10-20)**:
- The ATR will be smoother, averaging over a longer period, resulting in wider bands.
- The trend lines will be farther from the price, making the indicator less sensitive and more resilient to short-term fluctuations.
- Suitable for high volatility or longer-term trading.
- **Adjustment Guidance**:
- In a choppy market, increase the ATR period to avoid being whipsawed.
- In a trending market with strong momentum, a lower ATR period can help capture the trend earlier.
Calibrate ATR:
In choppy markets, increase ATR to avoid fakeouts.
In trending markets, decrease ATR to enter earlier.
Trend Magic is a very popular Indicator, the calculation is based on Commodity
Channel Index (CCI) and Average True Range (ATR).
This indicator is intended to indicate the true direction of the trend, replacing false signals with true ones.
Please note that timeframe input must be equal to or higher than current timeframe, if your chart is 15min, 'timeframe' must be 15min or higher.
### Detailed Instructions for MTF Trend Magic Indicator Inputs
#### 1. **Timeframe (`tf`)**
- **Purpose**: This input allows the indicator to calculate the trend from a higher timeframe than the current chart. It is the core of the multi-timeframe (MTF) functionality.
- **How to Use**:
- The default setting is `30` (which stands for 30 minutes).
- You can change it to any valid timeframe supported by TradingView. Examples:
- `'1'` for 1 minute
- `'5'` for 5 minutes
- `'15'` for 15 minutes
- `'30'` for 30 minutes
- `'60'` or `'1H'` for 1 hour
- `'240'` or `'4H'` for 4 hours
- `'D'` for daily
- `'W'` for weekly
- **Why adjust?**:
- If you are trading on a 5-minute chart but want to see the trend as per the 1-hour chart, set the timeframe to `'60'` or `'1H'`. This helps align your trades with the higher timeframe trend.
- A higher timeframe (like daily) will give you a broader trend, which is less noisy but slower to react. A lower timeframe (like 15 minutes) will be more reactive but might generate more false signals.
- **Tip**: Choose a timeframe that is one or two levels above your trading chart. For example, if you trade on 15 minutes, use 1 hour or 4 hour for the trend.
Critical Notes:
A higher tf reduces false signals but increases lag.
Mismatched timeframes (e.g., 1-min chart with W) may show outdated signals.
#### 2. **CCI Period (`CCI`)**
- **Purpose**: The CCI (Commodity Channel Index) is used to determine the direction of the trend. The CCI period setting adjusts the number of bars used to calculate the CCI.
- **How to Use**:
- The default value is `15`.
- **Lower values (e.g., 5-10)**:
- Make the CCI more sensitive to price changes.
- Results in more frequent trend reversals and signals.
- Suitable for short-term trading in volatile markets.
- **Higher values (e.g., 20-40)**:
- Smooth out the CCI, making it less sensitive.
- Results in fewer reversals and more stable trends.
- Suitable for longer-term trading and avoiding market noise.
- **Adjustment Guidance**:
- If you notice the trend line changing colors (from green to red or vice versa) too often, try increasing the CCI period to filter out noise.
- Conversely, if the trend line is too slow to react to price changes, reducing the CCI period may help.
Pro Tip:
When price chops sideways, increase CCI to avoid false reversals.
In strong trends, decrease CCI to capture early exits.
#### 3. **ATR Period (`ATR`)**
- **Purpose**: The ATR (Average True Range) measures market volatility. The ATR period sets the number of bars used to calculate the ATR, which in turn determines the width of the buffer bands (the trend lines).
- **How to Use**:
- The default value is `5`.
- **Lower values (e.g., 3-5)**:
- The ATR will react quickly to recent volatility, resulting in tighter bands.
- The trend lines will be closer to the price, making the indicator more sensitive.
- Suitable for low volatility or short-term trading.
- **Higher values (e.g., 10-20)**:
- The ATR will be smoother, averaging over a longer period, resulting in wider bands.
- The trend lines will be farther from the price, making the indicator less sensitive and more resilient to short-term fluctuations.
- Suitable for high volatility or longer-term trading.
- **Adjustment Guidance**:
- In a choppy market, increase the ATR period to avoid being whipsawed.
- In a trending market with strong momentum, a lower ATR period can help capture the trend earlier.
Calibrate ATR:
In choppy markets, increase ATR to avoid fakeouts.
In trending markets, decrease ATR to enter earlier.
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