HTF Overlay

The HTF Overlay indicator provides a fully customizable higher timeframe candle overlay on your current chart, allowing you to visualize broader market structure without switching timeframes. This tool is particularly effective for traders utilizing ICT concepts, such as the Power of Three (AMD), by highlighting key candle expansions and OHLC data points.

Usage

The Usage section covers how to effectively integrate HTF data into your current chart:

• Market Context: Use the overlay to identify institutional order flow and HTF support/resistance levels while executing trades on lower timeframes.
• Expansion Analysis: Focus on the open, high, low, and close (OHLC) of HTF candles to identify potential expansion or reversal zones.
• Real-time Reference: The script ensures the current developing candle remains clear while historical HTF candles are rendered as background elements, preserving visual clarity during active price movement.

Details

The indicator utilizes the request.security function to fetch price data (OHLC) and timing information from a user-defined higher timeframe. It dynamically calculates the visual boundaries for each HTF candle, rendering them as boxes and lines. A unique feature of this script is its update mechanism, which differentiates between closed and ongoing candles to ensure the overlay stays relevant to real-time market conditions without lagging.

Settings

LTF & HTF Settings

• Timeframe Selection: Define both the Lower Timeframe (LTF) and Higher Timeframe (HTF) for the overlay.
• Number of Candles: Set the specific number of historical HTF/LTF candles to display on the chart.
• Visibility Threshold: Use "Hide Above" settings to automatically disable the overlay when switching to higher chart periodicities to avoid clutter.

Appearance

• Candle Visuals: Customize body colors, wick colors, and transparency for both bullish and bearish candles.
• Toggle Features: Independently enable or disable wicks, candle outlines, and body shading.
• High/Low/EQ Lines: Option to plot horizontal lines for the high, low, and equilibrium (midpoint) of the HTF candles.
• Open/Close Lines: Display horizontal lines specifically for candle opens and closes, with customizable styles (Solid, Dashed, Dotted).

Additional Features

• Countdown Timer: Toggle a countdown timer for the HTF candle close, with adjustable positioning and size.
• Session Highlights: Configure specific time-based vertical lines or labels to mark key session opens (e.g., London or New York opens).

FAQ

How do I use this for ICT strategies? You can use the HTF Overlay to identify the "Opening Price" of a Daily or 4-hour candle to determine whether you are in a premium or discount zone relative to that specific candle's expansion.

Can I display multiple timeframes at once? This specific script allows for one primary HTF overlay and one LTF reference at a time to maintain chart performance and readability.

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