MTF Version of Third Most Important Trading Fact which is "Real Time" Support & Resistance - MTF Fractal Channel Indicator shows 8 Different Time Frames! FREE TRADING VIDEO
MTF Fractal Channel Indicator Displays 8 Different Time Frames of Support & Resistance
Many traders operate under the delusion that a multiple line moving average ribbon is a multiple time frame indicator, but it really is a single time frame indicator using multiple different lookback (LAG) settings. A multiple line moving average ribbon tells you absolutely nothing about any other time frame. They are just multiple lag indicators.
Correlating multiple time frames will stack the odds in your favor regardless of the trading style you use. This MTF Fractals Indicator makes using multiple time frames (MTF's) of Support & Resistance so visually simple that you will want to add MTF analysis to all of your trading. MTF analysis will provide you the "edge" you are looking for no matter what your trading style is.
The real secret "edge" in trading is made up of three things:
(1) Price Action (on multiple time frames is even better)
(2) Volume Action
(3) Support and Resistance (on multiple time frames is even better)
Price Action is the prime important fact and Volume is second to price action. Price and Volume combined creates Support and Resistance on every trading chart. These three all important aspects of trading, Price Action, Time Based Volume Action, and Support and Resistance are the real trading "edge".
For #1 which is Price Action, I use the MTF_Price Indicator to show "real time" Price Action on 8 time frames at once.
For #2 which is Volume Action, I use the Time Based Volume to see behind the "Wizard of Oz's Trading Curtain" to understand real trading volume action.
For #3 which is Support and Resistance, I use both the Fractal Channel Indicator and the MTF Fractal Channel Indicator.
This Multiple Time Frame (MTF) Fractal Indicator displays this "real time" identification of the result of Price Action and Volume Action which is call Support & Resistance for 8 different time frames.
Traders commonly use lots of "potential" Support and Resistance lines, such as floor trader pivots, moving average lines, etc. All of these show "potential" support and resistance areas, but only Price Action and Volume Action will show if these "potential" lines prove to be support or resistance. Whereas the MTF Fractal Indicator is real time support and resistance without all the "maybe" nonsense.
Trading tends to involve an overwhelming amount of information. Why confuse the process with a bunch of MAYBE support and resistance indicators like floor trader pivots, moving averages, etc. Simplify your trading by only dealing with the "real time" MTF Fractal support and resistance indicator.
This TradeStation Add-on product contains:
(1) MTF Fractal Bias Indicator shows the directional bias from eight different time frames based on real time higher time frame support and resistance areas.
(2) MTF Fractal Draw Indicator allows trader to select via inputs which higher time frame Fractal Channels they want drawn on their trading chart.
(3) MTF Fractal Channel 1-3 min Indicator (for Scalper Trading using 1, 2 or 3 min charts)
(4) MTF Fractal Channel 5 min Indicator (for Day Trading using 5 min charts)
(5) MTF Fractal Channel Hourly Indicator (for Swing Trading using Hourly charts)
(6) MTF Fractal Channel Daily Indicator (for Position & Investor Trading using Daily charts)
Note: Indicator #1 through #6 will work on any symbol, but only works on time based charts.
(7) MTF Fractal Channel Multiple Indicator (for using on ALL Non-Time Based Charts it creates higher time frames that are user selectable multiples of the chart. For example if you used a 100 TICK chart then each user defined higher time frame would be a different multiple of 100 TICK).