MTF (Multiple Time Frame) MACD Labels for ThinkorSwim

horserider

Well-known member
VIP
MTF labels of MACD added to Hahn Tech MTF MACD. You will need to enter the time frames above the chart time frame you desire. Labels will show low time frame , middle, and high time frame and be colored red or green.
Code:
# Code from Hahn Tech had no header.
# Added labels for three time frames.
# The chart time frame and two user chosen higher time frames. Labels turn red or green depending on MACD.
# Additions by Horserider 9/30/2019

input midTermPeriod = {"1 min", "3 min", "5 min", "15 min", "30 min", "60 min", "120 min", "Daily", default "Weekly", "Monthly"};
input longTermPeriod = {"3 min", "5 min", "15 min", "30 min", "60 min", "120 min", "Daily", "Weekly", default "Monthly"};

input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;

input midTermFastLength = 12;
input midTermSlowLength = 26;
input midTermMACDLength = 9;

input longTermFastLength = 12;
input longTermSlowLength = 26;
input longTermMACDLength = 9;

def middleAggregation;

switch (midTermPeriod) {
    case "1 min":
        middleAggregation = AggregationPeriod.MIN;
    case "3 min":
        middleAggregation = AggregationPeriod.THREE_MIN;
    case "5 min":
        middleAggregation = AggregationPeriod.FIVE_MIN;
    case "15 min":
        middleAggregation = AggregationPeriod.FIFTEEN_MIN;
    case "30 min":
        middleAggregation = AggregationPeriod.THIRTY_MIN;
    case "60 min":
        middleAggregation = AggregationPeriod.HOUR;
    case "120 min":
        middleAggregation = AggregationPeriod.TWO_HOURS;
    case "Daily":
        middleAggregation = AggregationPeriod.DAY;
    case "Weekly":
        middleAggregation = AggregationPeriod.WEEK;
    case "Monthly":
        middleAggregation = AggregationPeriod.MONTH;
}

def highestAggregation;
switch (longTermPeriod) {
    case "3 min":
        highestAggregation = AggregationPeriod.THREE_MIN;
    case "5 min":
        highestAggregation = AggregationPeriod.FIVE_MIN;
    case "15 min":
        highestAggregation = AggregationPeriod.FIFTEEN_MIN;
    case "30 min":
        highestAggregation = AggregationPeriod.THIRTY_MIN;
    case "60 min":
        highestAggregation = AggregationPeriod.HOUR;
    case "120 min":
        highestAggregation = AggregationPeriod.TWO_HOURS;
    case "Daily":
        highestAggregation = AggregationPeriod.DAY;
    case "Weekly":
        highestAggregation = AggregationPeriod.WEEK;
    case "Monthly":
        highestAggregation = AggregationPeriod.MONTH;
}

DefineGlobalColor("UpTrend", color.GREEN);
DefineGlobalColor("DownTrend", color.RED);
DefineGlobalColor("NoTrend", color.LIGHT_GRAY);

def timeFrame = getAggregationPeriod();
def testTimeFrames = if timeFrame < middleAggregation and middleAggregation < highestAggregation then yes else no;

AddLabel(yes, if testTimeFrames  then "Time Frames Are Correct" else "Time Frames Are Wrong", if testTimeFrames  then color.GREEN else color.RED);

# This section is for the chart level MACD
def fastAvg = ExpAverage(close, fastLength);
def slowAvg = ExpAverage(close, slowLength);

plot Value = fastAvg - slowAvg;
Value.SetDefaultColor(color.CYAN);
plot Avg = ExpAverage(Value, MACDLength);
Avg.SetDefaultColor(color.YELLOW);
plot Diff = (value - avg)*3;

# This section is for the medium term MACD
def midTermFastAvg = ExpAverage(close(period = middleAggregation) , midTermFastLength);
def midTermSlowAvg = ExpAverage(close(period = middleAggregation) , midTermSlowLength);

def midTermValue = midTermFastAvg - midTermSlowAvg;
def midTermAvg = ExpAverage(midTermValue, midTermMACDLength);
plot midTermDiff = (midTermValue - midTermAvg)*3;
midTermDiff.Hide();
midTermDiff.HideBubble();

# This section is for the long term MACD
def longTermFastAvg = ExpAverage(close(period = highestAggregation) , longTermFastLength);
def longTermSlowAvg = ExpAverage(close(period = highestAggregation) , longTermSlowLength);

def longTermValue = longTermFastAvg - longTermSlowAvg;
def longTermAvg = ExpAverage(longTermValue, longTermMACDLength);
plot longTermDiff = (longTermValue - longTermAvg)*3;
longTermDiff.Hide();
longTermDiff.HideBubble();


def midTermLower = midTermDiff < midTermDiff[1];
def midTermHigher = midTermDiff > midTermDiff[1];
rec midTermSignal = if midTermLower then  yes  else if midTermSignal[1] == yes and midTermHigher == no then yes else no;
#plot test = midTermSignal;
def longTermLower = longTermDiff < longTermDiff[1];
def longTermHigher = longTermDiff > longTermDiff[1];
rec longTermSignal = if longTermLower then  yes  else if longTermSignal[1] == yes and longTermHigher == no then yes else no;

midTermDiff.AssignValueColor(if midTermSignal then color.RED else color.BLUE);
longTermDiff.AssignValueColor(if longTermSignal then color.RED else color.BLUE);

Diff.AssignValueColor(if Diff > Diff[1] and midTermSignal == no and longTermSignal == no then GlobalColor("UpTrend") else if Diff < Diff[1] and midTermSignal == yes and longTermSignal == yes then GlobalColor("DownTrend") else GlobalColor("NoTrend") );
Diff.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Diff.SetLineWeight(3);

plot zeroLine = if close[-1] > 0 then 0 else Double.Nan;
zeroLine.AssignValueColor(if Diff > Diff[1] and midTermSignal == no and longTermSignal == no then GlobalColor("UpTrend") else if Diff < Diff[1] and midTermSignal == yes and longTermSignal == yes then GlobalColor("DownTrend") else GlobalColor("NoTrend") );
zeroLine.SetPaintingStrategy(PaintingStrategy.POINTS);
zeroLine.SetLineWeight(3);

AddLabel(yes, if value > avg == yes  then "MACD Short" else "MACD Short", if value < avg == no then color.GREEN else color.RED);

AddLabel(yes, if midtermsignal == yes  then "MACD MID" else "MACD Mid", if midtermsignal == no then color.GREEN else color.RED);

AddLabel(yes, if longtermsignal == yes  then "MACD Long" else "MACD Long", if longtermsignal == no then color.GREEN else color.RED);
 

horserider

Well-known member
VIP
Anyone wanting the full study to show just add a "declare lower " at top of code or drag the study to lower studies.
 
Hi I'm new and I tried out this MTF MACD but whenever I use a time frame that is higher than the midterm time frame for the chart the whole thing disappears. Is this a bug or did I do something wrong?

 

BenTen

Administrative
Staff
VIP
@yman The purpose of an MTF indicator is mostly for conveniency. Under the Scan tab, you should be able to use the regular MACD indicator with your choosing timeframe.
 

crazycraziercraziest

New member
VIP
@crazycraziercraziest This is the multiple timeframe version. Wait for the underlying candle of that timeframe to close for confirmation.

Understood, just ran into the scenario this morning, one my 1h chart, the dot' color on the previous 2-4 bar ( on the 0 line, not the color bars) got changed back-forth several times, only the dot color, not the bars.

also, I used it on my /ES 1h (1h, daily and weekly)and 1D (1D, W, M) chart, 1h MID shows RED, yet the 1D shows short in GREEN. How does it interpret?
 

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