Trade Multi Time Frame MTF Moving Average Trend for Thinkorswim TOS Script
Trade Multi Time Frame MTF Moving Average Trend for Thinkorswim TOS Script
Trade Multi Time Frame MTF Moving Average Trend for Thinkorswim TOS Script
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Description
Thinkorswim TOS script has a moving average trend.
The Weighted Moving Averages are used to define the single trend bar. There are a number of trend bar indicators. The colors range from shades of green to shades of red with yellow suggesting a transition or consolidation.
What OP_Trend Bars MTF does is give clues if a trend is about to start or end. It also shows the strength of a trend. The trend bars range from a 0 to 7 scale on the right edge with 7 measuring the shorter term trend and 0 measuring the longest.
In both time and tick charts, this indicator has been tested on numerous securities. It works well on all of them.
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