SuperTrend Oscillator MTF

The SuperTrend Oscillator MTF indicator provides a multi-timeframe perspective on trend direction and strength by converting the classic SuperTrend logic into a normalized oscillator format. By calculating the distance between price and the SuperTrend line across three distinct timeframes, it allows traders to identify confluence and trend intensity within a single oscillator window.

Usage

The Usage section highlights how to interpret the various visual cues provided by the oscillator. Traders can use this tool to confirm trend alignment across multiple horizons before entering a trade.

• Trend Strength: Values further from the zero line indicate a stronger trend. A value above zero suggests a bearish trend, while a value below zero indicates a bullish trend.
• Circle Signals: These appear on the zero-line cross of the current timeframe, serving as early trend change alerts.
• BUY/SELL Labels: These high-confluence signals appear only when the current timeframe and both secondary timeframes (TF1 and TF2) align in the same direction simultaneously.
• Zero Line Color: The central axis changes color to reflect three-timeframe agreement, providing a quick visual reference for market sentiment.

Details

The script functions by subtracting the classic SuperTrend value from the closing price and normalizing the result. This normalization allows for a direct comparison between different timeframes without price scaling issues. The tool integrates request.security() to fetch data from higher timeframes, ensuring that the user can monitor broad market structure while trading lower timeframe fluctuations.

Settings

Main Settings

• ATR Period: Sets the lookback period for the Average True Range calculation (default: 10).
• Factor: Multiplier for the ATR to determine the distance of the SuperTrend line (default: 3.0).
• TF 1 & TF 2: Selectable secondary timeframes for multi-timeframe analysis.

Gradient

• Enable gradient: Toggles the soft color fill between the oscillator lines and the zero line.
• Gradient intensity: Adjusts the transparency of the visual fills.

3TF Labels

• Show BUY/SELL labels: Enables or disables the labels triggered by three-timeframe agreement.

Colors

• TF2/TF1/Current TF Bullish & Bearish: Customization options for the line colors associated with each timeframe's trend.

FAQ

How do I use the multi-timeframe feature effectively?

Set the secondary timeframes (TF1 and TF2) to higher intervals than your current chart (e.g., if trading on 15m, use 1H and 4H) to ensure you are trading in the direction of the major trend.

What is the difference between circle signals and BUY/SELL labels?

Circle signals represent trend shifts on the current timeframe only, whereas BUY/SELL labels indicate that all three selected timeframes have synchronized into a bullish or bearish state.

How can I access this tool?

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