Trade Multi Time Frame MTF Moving Average Trend for Thinkorswim TOS Script
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The Study is Based on three individual Weighted Moving Averages formulated to define each single trend bar. There are seven distinct trend bar indicators. Within each trend bar the colors range from shades of green to shades of red with yellow implying a transition or a consolidation may be about to occur..
What does it do: What OP_Trend Bars MTF does is measures and gives clues if a trend is just about to begin or just about to end. It also indicates trend length and the strength of a trend as well. The trend bars range from a 0 – 7 scale on the right edge with 7 measuring the shorter term trend and 0 measuring the longest.
This indicator has been tested on numerous securities (Stocks, ETFs, Futures, Commodities, Currencies, etc…) across multiple time frames in both time and tick charts. It works exceptionally well on all of them.
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