Enhanced Pressure MTF Screener

7 בנוב׳

Enhanced Pressure Multi-Timeframe (MTF) Screener Indicator

Overview

The Enhanced Pressure MTF Screener is an add-on that extends the capabilities of the Enhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis. It provides a clear and consolidated view of buy/sell pressure across multiple timeframes. This indicator allows traders to determine when different timeframes are synchronized in the same trend direction, which is particularly useful for making high-confidence trading decisions.


Image below: is the Enhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis with the Enhanced Pressure MTF Screener indicator both active together.


Key Features

1.Multi-Timeframe Analysis

• The indicator screens various predefined timeframes (from 1 week down to 10 minutes).
  
• It offers a table view that shows buy or sell ratings for each timeframe, making it easy to see which timeframes are aligned.
  
• Traders can choose which timeframes to include based on their trading strategies (e.g., higher timeframes for position trading, lower timeframes for scalping).
  

2.Pressure and Trend Calculation

• Uses Buy and Sell Pressure calculations from the Enhanced Buy/Sell Pressure indicator to determine whether buying or selling is dominant in each timeframe.
  
• By analyzing pressures on multiple timeframes, the indicator gives a comprehensive perspective of the current market sentiment.
  
• The indicator calculates whether a move is strong based on user-defined thresholds, which are displayed in the form of additional signals.
  

3.Heikin Ashi Option

• The Heikin Ashi candle type can be toggled on or off. Using Heikin Ashi helps smooth out market noise and provides a clearer indication of trend direction.
  
• This is particularly helpful for traders who want to filter out market noise and focus on the primary trend.
  

4.Table Customization

• Table Positioning: The table showing timeframe data can be positioned at different locations on the chart—top, middle, or bottom.
  
• Text and Alignment: The alignment and text size of the table can be customized for better visual clarity.
  
• Color Settings: Users can choose specific colors to indicate buying and selling pressure across timeframes, making it easy to interpret.
  

5.Strong Movement Indicators

• The screener provides an additional visual cue (🔥) for timeframes where the movement is deemed strong, based on a user-defined threshold.
  
• This helps highlight timeframes where significant buying or selling pressure is present, which could signal potential trading opportunities.
  

How the Screener Works

1.Pressure Calculation

• For each selected timeframe, the indicator retrieves the Open, High, Low, and Close (OHLC) values.
  
• It calculates buy pressure (the range between high and low when the closing price is higher than the opening) and sell pressure (the range between high and low when the closing price is equal to or lower than the opening).
  
• The screener computes the pressure ratio, which represents the difference between buying and selling pressure, to determine which side is dominant.
  

2.Trend Rating and Signal Generation

• Based on the calculated pressure, the screener determines a trend rating for each timeframe: "Buy," "Sell," or "Neutral." (▲ ,▼ or •)
  
• Additionally, it generates a signal (▲ or ▼) to indicate the current trend direction and whether the move is strong (based on the user-defined threshold).
  
• If the movement is strong, a fire icon (🔥) is added to indicate that there is significant pressure on that timeframe, signaling a higher confidence in the trend.
  

3.Customizable Strong Move Thresholds

• Strong Move Threshold: The screener uses this value to decide whether a trend is significantly strong. A higher value makes it more selective in determining strong moves.
  
• Strong Movement Threshold: Helps determine when an additional strong signal should be displayed, offering further insight into the strength of market movement.
  

Inputs and Customization
The Enhanced Pressure MTF Screener is highly customizable to fit the needs of individual traders:
General Settings:

• Use Heikin Ashi: Toggle this setting to use Heikin Ashi for a smoother trend representation.
  
• Strong Move Threshold: Defines how strong a move should be to be considered significant.
  
• Strong Movement Threshold: Specifies the level of pressure required to highlight a move with the fire icon.
  

Table Settings:

• Position: Choose the vertical position of the screener table (top, middle, or bottom of the chart).
  
• Alignment: Align the table (left, center, or right) to best suit your chart layout.
  
• Text Size: Adjust the text size in the table for better readability.
  

Table Color Settings:

• Users can set different colors to represent buying and selling signals for better visual clarity, particularly when scanning multiple timeframes.
  

Timeframe Settings:

• The screener provides options to include up to ten different timeframes. Traders can select and customize each timeframe to match their strategy.
  
• Examples of available timeframes include 1 Week, 1 Day, 12 Hours, down to 10 Minutes, allowing for both broad and detailed analysis.
  

Practical Use Case

Identifying Trend Alignment Across Timeframes:

• Imagine you are about to take a long trade but want to make sure that the trend direction is aligned across multiple timeframes.
  
• The screener displays "Buy" ratings across the 4H, 1H, 30M, and 10M timeframes, while higher timeframes (like 1W and 1D) also show "Buy" with strong signals (🔥). This indicates that buying pressure is strong across the board, adding confidence to your trade.
  

Spotting Reversal Opportunities:

• If a downtrend is evident across most timeframes but suddenly a higher timeframe, such as 12H, changes to "Buy" while showing a strong move (🔥), this could indicate a potential reversal.
  
• The screener allows you to spot these discrepancies and consider taking early action.
  

Benefits for Traders

1.Synchronization Across Timeframes:

• One of the main strengths of this screener is its ability to show synchronized buy/sell signals across different timeframes. This makes it easy to confirm the strength and consistency of a trend.
  
• For example, if you see that all the selected timeframes display "Buy," this implies that both short-term and long-term traders are favoring the upside, giving additional confidence to go long.
  

2.Quick and Visual Trend Overview:

• The table offers an at-a-glance summary, reducing the time required to manually inspect each timeframe.
  
• This makes it particularly useful for traders who want to make quick decisions, such as day traders or scalpers.
  

3.Strong Move Indicator:

• The use of fire icons (🔥) provides an easy way to identify significant movements. This is particularly helpful for traders looking for breakouts or strong market conditions that could lead to high probability trades.
  

To put it short or to summarize
The Enhanced Pressure MTF Screener is a powerful add-on for traders looking to understand how buy and sell pressure aligns across multiple timeframes. It offers:

• A clear summary of buying or selling pressure across different timeframes.
  
• Heikin Ashi smoothing, providing an option to reduce market noise.
  
• Strong movement signals to highlight significant trading opportunities.
  
• Customizable settings to fit any trading strategy or style.
  

• The screener and the main indicator are best used together, as the screener provides the multi-timeframe overview, while the main indicator provides an in-depth look at each individual bar and trend.
  

I hope my indicator helps with your trading, if you guys have any ideas or questions there is the comment section :D

9 בנוב׳

הערות שחרור

Integrated HTF Candles

• I have added Integrated HTF Candles to extend the functionality of the screener even further. This addition makes candlestick analysis more in-depth by allowing you to view timeframe alignment and higher timeframe candle formations more easily. When using this screener alongside the Enhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis (which I recommend), you can confirm price action more clearly while also seeing the dominating volume and pressure for each candle.
  

The image below: Shows the Enhanced Buy/Sell Pressure, Volume, and Trend Bar analysis with Enhanced Pressure MTF Screener with the new update. the Enhanced Buy/Sell Pressure Shows volume and pressure for each individual candle, screener MTF alignment signal and now the HTF candle overlay showing HTF candle formation.



In summary, this update:

• Adds a powerful HTF Candles option, including Standard, Heikin Ashi, or the custom AMA Smoother variant I created, enabling users to overlay these HTF candles on their charts.
  
• Heikin Ashi and AMA Smoother: Both are designed to smooth out price action, highlighting trend direction more effectively.
  
• The AMA Smoothing Factor sets how smooth the candles for the AMA will be.
  

Special thanks to DGGT, as it is his HTF design that I adopted and modified to integrate it with my screener and custom smoothing option.