MTF Supertrend Heatmap (D / 4H / 1H / 15m / 5m)

The MTF Supertrend Heatmap (D / 4H / 1H / 15m / 5m) indicator provides a comprehensive dashboard for monitoring trend direction across five customizable timeframes simultaneously. It allows traders to quickly identify trend alignment and potential reversals by consolidating Supertrend data into a clean, visual heatmap.

Usage

The indicator can be used to gauge market sentiment by looking at the color-coded heatmap. When all or a majority of the timeframes align (e.g., all green), it suggests a strong trend, whereas mixed colors indicate consolidation or a potential shift in momentum.

• Trend Confirmation: Use the heatmap to confirm signals on your primary trading timeframe. If the daily and 4H timeframes are bullish, lower timeframe long setups may have higher probability.
• Visual Markers: By enabling "Show flip markers on chart", the script plots labels whenever a specific timeframe's Supertrend flips its direction, allowing you to see historical transitions without switching charts.
• Current TF Plotting: You can toggle the "Show Supertrend line" to see the standard Supertrend calculation for the timeframe you are currently viewing.

Details

The script utilizes request.security() to fetch data from higher timeframes. To ensure data integrity and prevent repainting, a "Confirm higher timeframe bar close" option is included. When enabled, the indicator only uses confirmed data from the external timeframes. The heatmap calculates a "majority" status when at least 3 out of the 5 timeframes agree on a direction, which can be useful for filtering noise.

Settings

Supertrend Parameters

• ATR Length: Sets the lookback period for the Average True Range calculation.
• ATR Multiplier: Determines the sensitivity of the Supertrend line; higher values make it less sensitive to price fluctuations.

Display & Behavior

• Confirm higher timeframe bar close: When enabled, prevents repainting by waiting for the higher timeframe candle to close before updating the value.
• Show Supertrend line (current TF): Plots the Supertrend line for the active chart timeframe.
• Show flip markers on chart: Displays labels above the bars when any of the monitored timeframes flip their trend.
• Heatmap Position: Choose where the dashboard table appears (Top Right, Top Left, Bottom Right, Bottom Left).

Timeframe Configuration

• TF #1 - #5: Allows users to define the specific timeframes displayed in the heatmap, defaulting to Daily, 4H, 1H, 15m, and 5m.

FAQ

How do I access MTF Supertrend Heatmap (D / 4H / 1H / 15m / 5m)?

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

Does this indicator repaint?

If the "Confirm higher timeframe bar close" setting is enabled, the indicator uses confirmed data to avoid repainting higher timeframe values.

Can I change the timeframes used in the heatmap?

Yes, all five timeframes are fully configurable in the indicator settings menu under the Timeframe Configuration section.