MTF MACD (PPO)

The MTF MACD (PPO) indicator provides a comprehensive multi-timeframe view of trend and momentum by displaying up to five different timeframes of MACD or PPO data in a single pane. This tool helps traders identify high-probability entries by confirming signals across multiple time horizons, ensuring that short-term movements align with broader market trends.

Usage

The script is designed to streamline multi-timeframe analysis. Users can monitor the MACD line, Signal line, and Histogram for several timeframes simultaneously.

• Trend Confirmation: Use higher timeframes to determine the primary trend and lower timeframes to time entries. For example, a bullish entry is stronger when both the 1-hour and 15-minute MACD lines are crossing above their respective signal lines.
• PPO vs. MACD: Switch to the Percentage Price Oscillator (PPO) to compare momentum across different assets regardless of their absolute price levels.
• Predictive Dots: Monitor the chart for "Potential" cross dots (Yellow/Purple), which indicate that a crossover is likely to occur on the next bar if current momentum persists.
• Big Signal: Configure the "Big Signal" background highlights to trigger only when specific conditions (like SuperTrend direction or EMA alignment) are met across multiple selected timeframes.

Details

The indicator calculates standard MACD using the difference between a 12-period and 26-period Exponential Moving Average (EMA). The PPO variant expresses this difference as a percentage of the 26-period EMA.

Key visual features include:

• Additional Indicator Line: A status bar below each MACD timeframe showing Histogram direction, SuperTrend, or EMA trend.
• Best Fit Scaling: An optional feature that re-scales the MACD components to fit within a specific visual range (+2 to -2), making it easier to compare multiple timeframes without vertical overlap issues.
• Divergence Detection: Automatically identifies bullish and bearish divergences between price and the MACD/Histogram.

Settings

Time Frames

• Timeframe #1-5: Selection for the specific resolutions to display.
• TF Mult: A multiplier to scale the current chart timeframe (e.g., multiplier 4 on a 15m chart creates a 1h view) to prevent repainting.

Indicators

• MACD/Signal/Histogram: Toggles for the primary components of the oscillator.
• Divergence Type: Choose between MACD or Histogram for divergence calculations.
• Additional Indicator Line: Selects the trend-following metric displayed at the base of each timeframe.

Cross Signals

• Cross Up/Down Dots: Displays dots when a MACD crossover occurs.
• Potential Cross Dots: Highlights bars where a crossover is mathematically probable on the subsequent bar.

Big Signal

• Big Signal Requirements: A series of checkboxes to define which timeframes and conditions (Cross, Direction, SuperTrend, EMA) must align to trigger the background signal.

FAQ

How do I use this without repainting?

To prevent repainting, it is recommended to set the timeframe inputs to "Chart" and use the "TF Mult" (Timeframe Multiplier) settings to define your higher timeframes.

What is the difference between MACD and PPO in this script?

MACD measures the absolute point difference between EMAs, while PPO measures the percentage difference. PPO is useful for comparing the volatility and momentum of two different stocks or assets.

How can I access MTF MACD (PPO)?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.