Combination of different timeframes

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Unsimpleindividuo
Posts: 1
Joined: Thu Jul 13, 2023 1:45 pm

Combination of different timeframes

Post by Unsimpleindividuo »

Hello, first of all I want to congratulate you because I think it is an excellent platform, very complete.
I have the demo version. I am trying to create a setup for 5 minutes, but that is only activated when the price is above another indicator in a higher timeframe, for example in 1 hour. I can´t find the way to do that. Could you send me an example of how I should do it?
Thanks!
Regards
Santiago
ntm
Posts: 2
Joined: Fri Jul 21, 2023 8:58 pm

Re: Combination of different timeframes

Post by ntm »

This is something I would really like to be able to do as well. Specifically I need to check an indicator in the weekly timeframe as well as the daily timeframe. Is this possible?
Khan
Posts: 116
Joined: Wed Feb 22, 2023 10:21 am

Re: Combination of different timeframes

Post by Khan »

I'm in the same boat. Being able to select a time frame for an indicator, rather than it default to a chart's current time frame would be very useful, both for indicators on charts and in the rule manager.
NakedMarkets
Posts: 217
Joined: Tue Feb 22, 2022 11:06 am

Re: Combination of different timeframes

Post by NakedMarkets »

Hello,

First, thanks for your suggestions. Since you are several asking to be able to attach a rule containing an indicator with different timeframe than the one of the chart, we had to check and analyze the needs of different users (we had similar discussions via emails).
As usual, our goal is to implement a feature which fits the most common use-cases to make everybody happy.

First, we have to explain you how NakedMarkets works with rules containing indicators.
When the user attaches a rule, containing a rule with an indicator, as example the RSI, without static timeframe (timeframe = current), the software will take the indicator value of the current timeframe and automatically attach the indicator to display the values.
Now, when the user attach a rule, containing the same indicator rule, but with static timeframe (ie : RSI W1 on a D1 chart), the software will take the indicator value of the defined timeframe, here W1, and attach the indicator to the chart, AND change the current timeframe of the chart to fit W1.

Why we decided to do that ?
Because, at the moment, we chose to display/attach automatically the indicators used in the rules you defined. Of course, it can be changed. But we want to explain you why. Since we chose to display/attach the indicators, we have no choice but to set in accordance the chart timeframe and the one used in the rule.
If the software don't do this, it will print inconsistent data. If we display RSI W1 indicator values on a D1 chart, this will display messy data because it's not in accordance.

How to do it ?
If we want to attach a rule, containing an indicator with different timeframe than the chart one, we have to attach the indicator, without displaying it.
So a solution could be to let the user decide if he wants to attach automatically indicators on charts when attaching rules containing such indicators. But in one case, it will not be possible to display the values of the indicator on the same chart : when the rule contains an indicator with a different timeframe. In this case, we could force the opening of another chart with the related timeframe if needed.

And, the fact that the rule contains an indicator with different timeframe (when not displayed) should be highlighted properly in the interface to remind the user that it's not the same timeframe (for example, use different color/typo when listing the name of the indicator).

Please, let us know what you think about it in order to implement this feature in the most efficient way for everybody
NakedMarkets
Posts: 217
Joined: Tue Feb 22, 2022 11:06 am

Re: Combination of different timeframes

Post by NakedMarkets »

Hello,

Just to let you know that if we don't have any feedback, we will implement it as described above,

Thanks
Kpu123
Posts: 20
Joined: Thu Dec 07, 2023 3:00 pm

Re: Combination of different timeframes

Post by Kpu123 »

I have one suggestion implement it like as you said but make sure when I change the time frame suitable for different time frame indicator it will show it's value on chart and current indicator should disappear. And we should be able to exit our positions using different time frame indicator which is not visible but it should pop a message of name.exit has been met. Thanks
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