Thinkorswim MTF MACD Indicator 45

Multiple Time Frame MACD Study

Thinkorswim MTF MACD Indicator

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 webpage.

Link to study file: Chart_MTF_MACDSTUDY.ts


*Thinkorswim is a chart analysis platform offered by TD

TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex.

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Watch the video, Thinkorswim MTF MACD Indicator below:

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45 thoughts on “Thinkorswim MTF MACD Indicator

  • evelinnzgmailcom

    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

    • Pete Hahn Post author

      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.

      • Pete Hahn Post author

        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.

  • GD

    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?

  • mattrose0

    Hi Pete , Loved the video. Am so excited to try this out. Im using a MacBook Air, but the download then try to open in Supremeplayer which is a video media player. Any tips in which it should be opening up with – is this Mac compatible t?

  • Bill W

    Hi Pete,
    I’ve added MACD Crossover Sound to MACD
    Alert(UpSignal == ZeroLine, “Up Arrow Alert”, Alert.BAR, Sound.RING);
    Alert(DownSignal == ZeroLine, “Down Arrow Alert”, Alert.BAR, Sound.RING);

    but the above won’t work on your MTF.
    any help would be great. I’m more of a copy paste guy

  • Bill W

    Pete! Thanks this saves a lot of back and forth between time frames to get a MACD confirmation signal to enter a trade. I can clean up my chart to just an exit signal now. I use 5 15 and 30 setting for intraday futures. Thanks for the video and instructions. A piece of cake to install and thanks for freely sharing this study!!

  • AJ

    Hi Pete, thank you for everything you do! I have learned so much just by watching your videos and your customer indicators. How would I go about creating an alert for when all 3 aggregation periods match?

  • Kevin

    I love the video and think it’s great. I imported it into TOS but it’s not showing anything like what yours looks like. It’s just one single line. I set it up like you showed. Any ideas?

  • kevin

    MTF has 3 Input time frames- fast,mid,long. I need to set only 2 time-frames. how do i set the long (3rd) time frame to be inert.(inactive)

  • Bbender

    Hi Pete! Thank you for all you do. This does not function as it should on the mobile app which is all I can use at work. It shows the MACD lines and histogram but doesn’t appear to change colors or show thesignal arrows. Also, I can’t find “START AGGREGATION AT MARKET OPEN” on the tos mobile app anywhere. Any chance you’d be willing to slightly modify for us stuck on the mobile app? It doesn’t even have to change colors, if it would just show the signal. I love this study and this website. Thanks.

    • Bob Romans

      Thanks I’ve looked into it. Tried Chrome, Edge and Firefox. No extensions, even paused antivirus security. Gear icon shows annotations on. Cleared cache and cookies. Restarted browser, reset to default on youtube and browsers, reloaded youtube, even downloaded installed as a new browser Firefox to try that. Unable to view the link annotation no matter what I try. Can’t believe I’m the only one with this issue.

      • Pete Hahn Post author

        Terribly sorry to put you through all that. I was not aware that YouTube has completely removed all annotations. Even from videos previously published. Please contact me via this contact form and I will email you the link.

        I will have to update my entire library of videos to correct the issue for the rest of the viewers:

  • Lin

    Hi Pete, do i understand correctly that uncheck START AGGREGATION AT MARKET OPEN is only if we use intraday that can NOT be divided evenly by 6.5 hours trading hours = 390 minutes so if i use 130 minutes as base chart with mid chart 1day and check start aggregation at market open (else TOS weirdly starts the bar at 7:30 despite NO SHOW EXTENDED HOUR), your indicator will still work correctly, right?

    separate question, would you be so kind to post similar script in Trade Station (just the script without video, pls)
    thanks so much for all your time

    • Pete Hahn Post author

      “Start Aggregation at Market Open”, is a setting that impacts allignment between intraday charts and the rest of the tools on the platform. Uncheck this option to ensure your intraday charts align with the rest of the platform. This has absolutely nothing to do with dividing time.

  • Chuck

    Hi Pete, I downloaded the MTF MACD indicator and installed it as you state in the video. But I am getting an error periodically and the indicator goes blank. The error is located at the left upper corner of the chart. Chart_MTF_MACD: Trying to self-assign a non-initialized rec: mid term signal. Any idea how I can fix this? Thank you.

  • Al Guison

    Hi Pete – I started looking at your site and looks liek you got some good stuff here. Starting with this MTF MACD indicator. I’m definitely missing something here – I cannot find the link to download this TOS indicator.

    • Pete Hahn Post author

      If the white box is blank, your browser is blocking video annotations. Try resetting your browser to default settings or try using another browser.

  • Eve

    Pete, Do you happen to have this MTF MACD in tradeStation for range chart or tick chart as TOS cant support MTF for these types of chart

  • Cris

    Hi Hahn,

    This is very useful. I am however confused as to what does the length of the candles indicate? Some candles are longer than the other, and they all keep moving in ascending to descending and descending to ascending for most of the time.


  • Kevin Zou

    Hi Pete,
    It seems the link to chart_MTF_MACDSTUDY.ts is broken. Could you double-check to see it works? Thanks.
    Kevin Z.

    • Pete Hahn Post author

      You say you “copied the code”. We did not provide a text file for you to copy and paste. So if you copied and pasted the code you did not use our recommended method of importing the study file into thinkorswim. The entire purpose for providing a study file for import is to avoid copy errors.