Bjorgum MTF MA

The Bjorgum MTF MA indicator provides a versatile multi-timeframe moving average toolkit that enables traders to plot up to three independent averages with integrated RSI-based momentum heatmaps.

Usage

The Usage section describes how the script can be used to identify trends and momentum across multiple resolutions. Users can apply up to three moving averages to a single chart, each with its own timeframe, type, and length.

• Trend Stacking: By setting three moving averages (e.g., 50 EMA) to different successive timeframes (e.g., 15m, 1h, 4h), traders can visualize a "stacked" trend. When all averages are aligned and spaced apart, it confirms a strong trend.
• Momentum Heatmap: The RSI gradient feature allows the color of the moving averages or the price bars to change based on RSI values. A vibrant color indicates overbought or oversold conditions (outside the 30-70 range), while cooler colors indicate consolidation or weakening momentum.
• Multi-Timeframe Analysis: Assigning a higher-timeframe RSI heatmap to the current chart's bar colors allows traders to monitor the "big picture" momentum while looking for entries on a lower timeframe.

Details

The indicator utilizes a non-repainting multi-timeframe security function. This ensures that historical data remains accurate and matches real-time behavior without lookahead bias. Moving averages are calculated based on closed bars to maintain consistency.

The tool includes 10 different average types:

• Standard types: SMA, EMA, WMA, VWMA, HMA.
• Advanced types: DEMA (Double EMA), T3 (Tillson T3), VWAP, IT (Ehlers Instantaneous Trendline), and HEMA (Heikin Ashi EMA).

The RSI heatmap operates on a percentage gradient between 30 and 70. Values beyond these thresholds use the primary bullish/bearish colors to highlight extreme momentum.

Settings

• General Settings: Toggle for "Smooth" (interpolates MTF lines) and "Bar Color" (paints price bars based on selected logic).
• MA Type: Independent selection of the calculation method for MA #1, #2, and #3.
• MA Settings: Set the length for each average. Setting a length to zero disables that specific MA.
• IT Trendline: Specific inputs (Source and Alpha) for the Ehlers Instantaneous Trendline calculation.
• Resolution: Defines the timeframe for each moving average. An empty value defaults to the chart timeframe.
• Momentum: Adjusts the RSI length used for the heatmap color logic.
• MA Color Type: Selects whether the line color is determined by the MA direction (Rising/Falling) or RSI values.
• Visuals (Color/Transp/Linewidth): Independent styling options for each of the three moving averages.

FAQ

How do I enable the RSI momentum colors on the moving average lines? In the settings menu under "MA Color Type," change the selection from "MA" to "RSI" for the desired moving average index.

Does this indicator repaint when using higher timeframes? No, the script is constructed using non-repainting security functions to ensure that the data plotted on historical bars remains consistent with real-time price action.

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