Multiple Time Frame MACD Study
Thinkorswim MTF MACD Indicator
Three time frames packed into a single MACD? How is that possible? Check it out and see for yourself. The link to download this free custom indicator is embedded within the video. It’s very important you watch the video all the way through in order to understand what this indicator does, and how to adjust it to fit your needs. It will only work on time based charts. Sorry, tick and range charts are not supported. The idea for this indicator was based on feedback received from one of our viewers. Haven’t seen the video you’re looking for? Just drop us a note and we may end up doing a video on the topic of your choice. You can reach us several ways. You can leave a comment below, or connect with us via Facebook, Google+ and the www.hahn-tech.com webpage.
Link to study file: Chart_MTF_MACDSTUDY.ts
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DISCLAIMER: I AM NOT A CERTIFIED FINANCIAL ADVISOR AND NOTHING IN THIS VIDEO OR TEXT IS AN ADVERTISEMENT OR RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT. NOR IS THIS VIDEO OR TEXT INTENDED TO INSTRUCT YOU ON HOW TO MAKE BUY OR SELL DECISIONS USING ANY OF THESE INDICATORS.
*Thinkorswim is a chart analysis platform offered by TD Ameritrade: www.tdameritrade.com
TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex.
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Hi Pete! Is there a reason you can think of that would cause the lower study window to be blank at the start of everyday? I have to reload the saved style with settings in three windows and they populate again. Sometimes one of them will still display the histogram but the rest are mysteriously blank till I reload they style. Thank you, Sir, it’s a great script!
This is a common glitch in the Thinkorswim platform It even happens with built-in studies that reference higher time frames. For example the CamarillaLevels study. Sorry, nothing wrong with the code. Thinkorswim developers need to find the bug and fix it. But there is zero chance they will fix it unless someone tells them there is a problem.
Ok appreciate it Pete. I saved each timeframe as a style labeled as such, like 15m MAXD is what I call it, so the associated settings using 1h and D above are retained and automatically reloaded. PITA as I have the 1m and 5m setup the same way so there’s a routine of preloading them each morning BUT reload ONE workspace with all and accomplishes the same thing in one click for anyone wanting a faster fix.
Thanks for providing your tips for this workaround. Very much appreciate your input!
Hi Pete, i only need the midterm macdValue decline(not diff)
so i change
def midTermLower = midTermDiff < midTermDiff[1];
into def midTermLower = midTermValue < midTermValue[1];
but as rec midTermSignal
not allowed in conditional order (although recently there's no error showed in thinkscript editor, it did show error in the past)
will this study still be correct if i made it as
plot entry = Value[1]<Value[2] # macd chart level
and midTermLower[1] ;
i did test in paperMoney sometimes it triggered sometimes not
your kind input is highly appreciated.tks so much
Recursive variables “rec” are not supported for Conditional Orders at this time. There is no way to work around this limitation until Thinkorswim developers upgrade this section of the platform.
thanks. so plot e=midTermLower[1] ; (not using rec) will not be accurate ?
Sorry but no. That would completely ruin the signal. Trust me if there is a way to work around this I would have already provided that method. You do not need to waste anymore time trying to get this to work in the Conditional Order.
Will this study always give entry (or exit for that matter) point, in the past. So, say, DAILY and HOURLY EMA crosses sometime today, but in order to get entry signal on my chart from this indicator, it also needs to cross WEEKLY, which will form a WEEK later because it’s a lagging indicator; and I’ll never get the entry/exit signal on my hourly chart until the the weekly candle closes. isn’t it?
I cannot imagine a way to answer your question more clearly than what was already demonstrated in the video itself.