Welles Wilders MAs - MTFWelles Wilder Moving Averages - Multi-Timeframe (MTF)
This indicator displays Welles Wilder's Smoothed Moving Averages calculated from a higher timeframe of your choice, allowing you to view longer-term trend data on lower timeframe charts (such as tick charts, second charts, or any intraday timeframe).
KEY FEATURES:
• Multi-Timeframe Capability: Plot moving averages from any timeframe (default: 5 minutes) on your current chart
• Four Trend Layers: Short (34), Medium (72), Medium Extension (89), and Long (144) period moving averages
• Welles Wilder Smoothing: Uses the original Welles Wilder moving average formula for smoother, less reactive trend lines
• Flexible Coloring Options: Choose between price-based coloring or MA crossover-based coloring
• Visual Trend Zones: Shaded areas between moving averages help identify trend strength and direction
• Customizable: Adjust all periods, colors, and the source timeframe to fit your trading style
IDEAL FOR:
• Tick chart traders who want to see higher timeframe trends
• Day traders needing multi-timeframe analysis on a single chart
• Traders using range bars, Renko, or other non-time-based charts
• Anyone wanting to filter trades based on higher timeframe moving average trends
HOW TO USE:
1. Add the indicator to your chart
2. Set your preferred timeframe in the settings (default is 5 minutes)
3. Adjust MA periods and colors to your preference
4. Use the MA crossovers and price position relative to the MAs to identify trend direction and potential entry/exit points
The Welles Wilder MA is a type of exponential moving average that provides smooth trend-following capabilities with less whipsaw than traditional moving averages.
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