BoaBias: MTF ALMA SuperTrend & Stats

The BoaBias: MTF ALMA SuperTrend & Stats indicator provides a comprehensive multi-timeframe analysis combining ALMA-based SuperTrend logic with extensive run statistics. It allows traders to monitor trend regimes across five distinct timeframes (15m, 1H, 4H, 1D, 1W) on a single chart, offering insights into trend duration, exhaustion, and potential overheat scenarios.

Usage

The indicator can be used to identify trend alignment across multiple timeframes and detect when a trend might be "overstretched" compared to its historical averages.

• Multi-Timeframe Trend Tracking: View ALMA lines and regime colors for various timeframes. If the "Use filled bands" option is enabled, the area between adjacent timeframe ALMAs is shaded to visualize the spread between trend speeds.
• Bar Coloring: Bars can be colored based on the trend regime of a specific selected timeframe or the current chart timeframe.
• Trend Exhaustion: The MTF Overheat Labels appear when multiple timeframes simultaneously exceed their average run lengths by a user-defined multiplier. Labels marked "·S" indicate a stretched bearish run, while "·L" indicates a stretched bullish run.
• Statistics Interpretation: Use the dashboard to compare the "Cur Short/Long" (current run length) against the "Avg Short/Long" (historical average). Cells highlighted in red indicate that the current move is significantly longer than the average for that specific timeframe.

Details

The script utilizes the Arnaud Legoux Moving Average (ALMA) for its smoothness and responsiveness. The SuperTrend-style logic is applied by calculating upper and lower bands based on a standard deviation multiplier of the ALMA.

• Non-Repainting MTF: Data from higher timeframes is requested using barmerge.gaps_off and barmerge.lookahead_off to ensure calculations remain valid for real-time trading without lookahead bias.
• Whipsaw Metrics: The "Chop" statistics track runs that last only a few bars (≤ N). High values in these columns suggest a range-bound environment where trend signals are failing to develop into sustained moves.

Settings

ALMA SD SuperTrend Settings

• Show [TF] ALMA: Toggles the visibility of the specific timeframe ALMA line.
• Factor: The standard deviation multiplier used to set the SuperTrend bands.
• SD Length: The lookback period for the standard deviation calculation.
• ALMA Length/Sigma/Offset: Parameters governing the ALMA curve's smoothness and responsiveness.
• Use Filled Bands: Enables color shading between different timeframe ALMA lines.
• Bar Coloring Timeframe: Selects which timeframe's trend regime dictates the chart's candle colors.

Statistics & Table Settings

• Window for average: The number of bars used to calculate historical average run lengths for each timeframe.
• Count runs ≤ N bars as short (chop): Defines the threshold for what is considered a "fake" or short-lived trend run.
• Max bars for Max/OH scan: Limits the lookback for internal loops to optimize performance.
• Cur vs Avg (×): The multiplier used to trigger "overheat" highlights and labels.

MTF Overheat Labels

• Include [TF]: Selects which timeframes contribute to the overheat label logic.
• Min TFs overheated: The number of timeframes that must simultaneously meet the overheat criteria to print a label.
• Label Stack Step: Adjusts vertical spacing to prevent labels from overlapping on consecutive bars.

FAQ

How do I interpret the red cells in the table? Red cells in the "Cur Short" or "Cur Long" columns mean the current trend duration has exceeded its historical average by the multiplier defined in the "OH vs avg" settings.

The indicator is taking a long time to load, is this normal? Yes, because the script performs multiple multi-timeframe security calls and historical statistical scans, it may take several seconds to calculate upon first attachment or when switching symbols.

How can I access the BoaBias: MTF ALMA SuperTrend & Stats? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.