Enhanced Pressure MTF Screener

The Enhanced Pressure MTF Screener tool provides a consolidated view of buying and selling pressure across multiple timeframes, allowing traders to identify trend synchronization and high-confidence market movements. By aggregating data from various intervals, it helps determine when market sentiment is aligned, reducing the need for manual timeframe switching.

Usage

The Usage section highlights how to interpret the multi-timeframe dashboard for trend confirmation and reversal detection.

• Trend Alignment: Traders can use the table to verify if lower timeframes (e.g., 10m, 30m) are aligned with higher timeframes (e.g., 4H, 1D). When multiple timeframes display "Buy" or "Sell" ratings simultaneously, it suggests a stronger prevailing trend.
• Strong Movement Identification: Look for the fire (🔥) icon in the Signal column. This appears when the pressure ratio exceeds the user-defined "Strong Move Threshold," indicating significant market momentum.
• Smoothing Market Noise: By enabling the "Use Heikin Ashi" setting, the screener calculates pressure based on smoothed candle values, which is useful for filtering out volatile price spikes and focusing on the core trend.
• Customizing the Workspace: Use the table settings to move the display to different corners of the chart or adjust text size to ensure it does not obstruct price action analysis.

Details

The indicator functions by retrieving Open, High, Low, and Close (OHLC) values for up to ten user-specified timeframes via security requests. It calculates:

• Buy Pressure: The price range (High - Low) when the close is higher than the open.
• Sell Pressure: The price range (High - Low) when the close is equal to or lower than the open.
• Pressure Ratio: The difference between buying and selling pressure used to determine the "Buy," "Sell," or "Neutral" rating.
• Movement Strength: A comparison of the pressure ratio against the "Strong Move Threshold" to generate intensity signals.

Settings

General Settings

• Use Heikin Ashi: Toggle to calculate pressure ratios using Heikin Ashi candles instead of standard candles.
• Strong Move Threshold: Sets the selectivity for identifying significant moves; higher values require more dominant pressure to trigger strong signals.
• Strong Movement Threshold: Determines the specific pressure level required to display the fire icon signal.

Table Settings

• Table Position: Positions the dashboard at the top, middle, or bottom of the chart.
• Table Alignment: Aligns the table to the left, center, or right.
• Text Size: Adjusts the font size (Tiny to Large) for better readability.

Table Color Settings

• Buy/Sell Color: Customizes the visual colors used for bullish and bearish ratings within the table.

Timeframe Settings

• Show Timeframe 1-10: Toggles the visibility of specific rows in the screener.
• Timeframe Selection: Allows users to define which intervals (from 10 minutes to 1 week) are monitored.

FAQ

How do I interpret the fire (🔥) icon? The fire icon indicates that the buying or selling pressure on that specific timeframe has exceeded your "Strong Move Threshold," suggesting a high-intensity movement.

Can I change which timeframes are shown in the table? Yes, you can enable or disable up to ten different timeframes and choose specific intervals ranging from minutes to weeks in the "Timeframe Settings" group.

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