HTF Candles & Mini Charts by DGT

The HTF Candles & Mini Charts by DGT indicator is a multi-timeframe visualization tool designed to help traders monitor higher-timeframe market structure and price development without leaving their current chart. It provides a comprehensive environment for analyzing price action by combining HTF candle overlays, compact mini charts, technical indicators, and statistical panels.

Usage

The indicator can be used to maintain a broader market perspective while executing trades on lower timeframes. It offers two primary visualization methods:

• HTF Chart Overlay: This feature overlays higher-timeframe candles directly onto the active price chart. Traders can choose between two independent HTF overlays, selecting styles such as standard Candles, High-Low bars, or Heikin Ashi. This is particularly useful for identifying how lower-timeframe price action interacts with higher-timeframe candle ranges.
• Mini HTF Charts: These are compact, standalone charts displayed to the right of the main price area. They provide a "snapshot" of trend direction and structure. Users can customize these mini charts with their own technical overlays (e.g., Supertrend or Bollinger Bands) and oscillators (RSI or Stochastic).
• Volume-Weighted Coloring: Both the main chart and mini charts support volume-weighted coloring. When enabled, candles change color based on relative volume participation (volume vs. its moving average), highlighting periods of high conviction or abnormal market activity.
• Reference Levels: Users can enable statistical reference levels on the mini charts, including Range Extremes (High/Low) and Range Quartiles (25%, 50%, 75%), to quickly assess price location within a broader range.

Details

The script is built on a refactored multi-timeframe engine designed to handle complex rendering of candles and indicators across different periodicities.

• Fractal Analysis: The tool is based on the concept that markets are fractal; lower-timeframe movements often react to higher-timeframe levels. By visualizing both simultaneously, traders can avoid entering trades into HTF resistance or support.
• Technical Framework: The indicator integrates several standard analytical tools including Bollinger Bands, Moving Averages (SMA, EMA, HMA, RMA, WMA, VWMA), Supertrend, RSI, and Stochastic. These can be applied to both the main chart and the mini charts independently.
• Statistical Panel: The panel aggregates data across time horizons, providing performance metrics (returns from day, week, month, year start), distance to key moving averages, and relative volume activity.

Settings

First/Second HTF Chart

• First/Second HTF on Main Chart: Toggles the visibility of the HTF candle overlay on the main price chart.
• Timeframe: Sets the period for the HTF data (e.g., 1 Hour, 1 Day). If the selected timeframe is lower than the current chart, it defaults to the current chart's timeframe.
• Chart Type: Selects the visual style (Candles, High-Low, or Heikin Ashi).
• Volume-Weighted Candles: Enables candle coloring based on relative volume participation.
• Mini HTF Chart: Toggles the visibility of the compact mini chart.
• Mini Chart Bars: Determines the number of HTF bars displayed in the mini chart (up to 73).
• Mini Chart Overlay/Oscillator: Selects the technical indicator (BB, MA, Supertrend) or momentum oscillator (RSI, Stochastic) to display on the mini chart.
• Reference Levels: Selects the range boundaries to display (Extremes or Quartiles).

Main Chart Indicators

• Chart Overlay/Oscillator: Sets the technical indicators to be displayed directly on the primary price chart.
• Volume-Weighted Candles: Applies volume-based coloring to the main chart price bars.

Statistics Panel

• Performance Metrics: Displays percentage returns across various time horizons.
• Price Distance to MA: Shows how far price is from key moving averages across multiple timeframes.
• Volume Statistics: Displays current volume relative to historical averages.

Indicator Components (Bollinger Bands, MA, etc.)

• Type/Source/Length/Mult: Standard configuration settings for the integrated technical indicators used in overlays and mini charts.

FAQ

How do I adjust the position of the mini charts? You can use the "Mini Chart Offset" setting within the First or Second HTF Chart groups to move the mini charts horizontally to the right of the price action.

Can I view two different higher timeframes at once? Yes, the script supports two independent HTF configurations (First and Second HTF Chart), allowing you to see, for example, 1-hour candles and 4-hour candles simultaneously.

How do I access the HTF Candles & Mini Charts by DGT? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.