Timeframe overlay indicator

[JTrader]

A potentially very useful, and presumably quite simple indicator that i have not seen anywhere for MT4 is one that will -

Enable you to overlay a 2nd timeframe onto a chart - eg. a weekly EURUSD chart over a daily EURUSD chart, or a daily EURUSD chart over a H4 eurusd chart.

This needn't be confusing, because you could display one timeframe as candles, and the 2nd TF as a line chart.

Such an indicator would enable the user to more easily identify things like HH-HL-LL-LH, & S/R on the timeframe above the one you are trading on, within the one chart window.

Does anyone know if an indicator like this exists for MT4, I know that other charting packages are capable of this, but not entirely sure which ones:?: What chart platforms do you know of that it is possible to do this with:?:

Cheers.

 

[nine]

You can do it with Sierra Chart.

Here's one variation:

 

[Crap Buddist]

vt charts do the time zone option,30 mins, hours 4, daily weekly etc.and a custom one via the forums at vt I think. If you know a bit of coding or at least show willing VT guys will assist in programming indicators for you if you get stuck.

 

[platinyumnum]

Netdania chars do this in a limited way.

 

[zupcon]

The Rumpled One (TRO) also has an indicator for MT4 that does precisely this, IIRC its called Custom Candles, and he's posted it here

 

[trashman]

hi ,
maybe this link will help you:
Problems with Customcandle.mq4

"TimeFrame" must be in minutes, ex.: h4 = 240
"BGCandle" is the candle background, false = no background

have a nice pips

trashman

 

[platinyumnum]

This is all very touching, but what does it have to do with a method for linking a custom indicator to a previous indicator, or to the first indicator, in a secondary channel - not the chart channel. But, even in a chart, if you already have indicators set up on a chart, how do you link a custom indicator to one of those other indicators rather than to the close price? Is there something hidden in the "Timeframe overlay indicator" info that explains this?

Platiny

 

[platinyumnum]

Furthermore, all indicators, MT4 or Custom, show as lines. Yet, ALL of those indicators have a high and a low during a period, just like the price does. Computers are powerful enough these days to handle just about anything you can throw into them. Why doesn't anybody have BARS or CANDLES for indicators? Such statistics might be useful. Think about Candles for Bollinger Bands, rather than lines only.

Platiny