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Originally Posted by Emerald King
Is if this indicator didnt need to be refreshed every couple of hours.
When I have this indicator on a 1 hour chart and it is using the 4 Hour in its array, after a few hours I refresh it the indicator Paints the line differently than what it did in real time.
I have tried to get the same values/results without the need for it to be refreshed but have been unable to.
Until I or someone else can re-code so the refresh is not needed than I dont see much value for me in this indicator.
Thanks
Minggu
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Minggu,
As I've mentioned before, the whole idea of the MTF indicators was to allow you to see what was happening on multiple timeframes without having to constantly switch timeframes or have multiple charts open. In real time, they show you exactly what is happening on the longer timeframe, in increments of the shorter timeframe.
The last MTF bar for the longer timeframe represents what the longer timeframe looks like at the close. If you refresh the charts, all the incremental data is gone, so you get multiple bars that are identical to the closing bar of the longer timeframe. The real (closing) value of the indicator didn't change, you just don't see the increments.
Example of how you might use this:
You system calls for you to go long when the M5 and M15 Psars align, and H1 CCI is above 0. You can have 3 charts open, or you can use the MTF indicators and put them all on one chart. If you system calls for you to wait for the close, then no matter what, you need to for the H1 to close before making a decision.
But, you might use a little discretion. You are on minute 50. For the last 30 minutes (6 bars on your M5 chart) your H1 CCI has been above 0 and is climbing. It's currently at 100. You decide that everything looks positive, so you enter 10 minutes before the H1 bar closes. You did all of this without ever having to switch a chart or timeframe. (BTW, I'm not suggesting that the above scenario is something to be followed. I just made something up to illustrate how the MTF indicators might be used.)
Anyway, yes, they somewhat repaint themselves, but not like normal indicators that repaint, i.e. Zig Zag. The closing data of the longer timeframes never change. You just loose the incremented values when you refresh.
Keris