Multi-Timeframe Analysis

TrendSpider allows the traders to enable and use Multi-Time Frame Analysis (MTFA) on the charts to plot Trendlines, Indicators, Autofibs, Candlestick Pattern Recognition, and many other technical analysis capabilities from one timeframe to another for increasing the probability of a successful trade without splitting the chart.

In this documentation, we will explore how to enable MTFA on the charts and its use with various other technical capabilities available on TrendSpider:

  • Enable MTFA on Chart
    • MTFA & Auto Trendlines
    • MTFA & Manual Trendlines
    • MTFA & Indicators 
    • MTFA & Autofibs 
    • MTFA & Candlestick Pattern Recognition 
  • MTFA in Alerts
    • MTFA & Multi-Factor Alerts
    • MTFA & Dynamic Price Alerts
  • MTFA & Scanner 
  • MTFA Controls in Chart Legend

Let’s get started 🚀

Enable MTFA on Chart

Step 1: Click on the MTFA button from the top-left corner of the interface.

Click on the MTFA button

Step 2: Define the Primary (existing) and Secondary timeframes.

Note: TrendSpider supports vast options of timeframe ranging from 1 minute to Monthly.

Define the Primary and Secondary timeframes

MTFA & Auto Trendlines

With MTFA enabled, you can allow TrendSpider to plot automatic trendlines drawn on the different time compression in the existing timeframe. For example, the auto trendlines drawn on a secondary timeframe, (let’s say Weekly) can be plotted on a “Daily” existing (primary) chart for the AAPL symbol.

In this case, with both the timeframes (primary and secondary) enabled from the indicator list, you will find the solid lines on the chart representing the auto trend lines drawn in the current timeframe (primary timeframe) and the dashed lines representing the trend lines drawn in a secondary timeframe appearing on the current chart.

MTFA & Auto Trendlines

MTFA & Manual Trendlines

You can configure the manual trendlines and many other drawings like Segment Lines, Ruler Line, Horizontal Lines, etc. to be plotted on the different time compressions by changing the properties. In this documentation, we have illustrated the steps for using MTFA with manual trendlines.

Step 1: Right-click on the manual Trendline and select Properties from the dropdown list.

Right-click on the manual Trendline and select Properties

Step 2: Change the visibility configuration to any of the following:

  • All Time Frames 
  • Original Timeframe and Below

Change Visibility

As a result of this configuration, you will be able to view the trendline on a current timeframe that has been drawn on a different time compression.

MTFA & Indicators

With MTFA enabled you can add Indicators from the secondary timeframe on the current chart. For example, you can plot the Simple Moving Average (SMA) from a Weekly timeframe (secondary) on the current Daily timeframe. The SMA drawn on the current (primary) timeframe will have solid lines whereas the SMA belonging to the secondary timeframe will have dashed lines on the current chart.

Note: You can use MTFA across all the indicators available in the TrendSpider.

Use MTFA across all the indicators

MTFA & Autofibs

With MTFA enabled, you can add Autofibs from the secondary timeframe on the current chart. For example, you can plot the Autofib from a Monthly timeframe (secondary) on the current Weekly chart. The Autofib drawn on the current (primary) timeframe will have solid lines whereas the Autofib belonging to the secondary timeframe will have dashed lines on the current chart.

Note: Please ensure that the secondary timeframe for the Autofibs is enabled from the indicator list.

add Autofibs from the secondary timeframe on the current chart

If you want to exclusively view the Autofibs drawn on the secondary timeframe (dotted lines) on the existing chart, then you can disable the primary timeframe from the indicator list.

exclusively view the Autofibs drawn on the secondary timeframe

MTFA & Candlestick Pattern Recognition

With MTFA enabled, TrendSpider can automatically detect and plot candlestick formations on the chart belonging to different timeframes while also highlighting them and adding a label. For example, you can plot weekly “Hammer” candlestick patterns on the Daily chart.

The candlestick pattern belonging to the secondary timeframe (Monthly in this example) will be enclosed in the box made of dashed lines whereas the candlestick pattern on the current timeframe (Weekly in this example) will be enclosed in the box made of solid lines.

MTFA & Candlestick Pattern Recognition

MTFA & Alerts

MTFA & Multi-Factor Alerts

Multi-Factor Alerts (MFA) for indicators with multiple timeframes is relatively straightforward—the alert will fire when all of the conditions are met across different timeframes. To use MTFA with Multi-Factor Alerts, traders will need to enable the expert mode.

By default, TrendSpider will only allow you to configure the alert criteria based on the timeframes that are visible on your screen. Enabling expert mode removes this limitation.

In the snippet below, you can observe how different time frames used in the MFA are represented in the lower RSI (Relative Strength Index) indicator. The primary timeframe selected on the chart is being represented through a solid line whereas the secondary timeframe selected on the chart is being represented through a dashed line.

MTFA & Multi-Factor Alerts

For more information, please refer to the documentation on Multi-Factor Alerts & Multiple Timeframes

MTFA & Dynamic Price Alerts

You can create Simple Dynamic Alerts on the indicators, drawings, or an automatic technical capability belonging to the Secondary Timeframe. In this way, the traders can configure up to 3 categories of timeframes while creating a Dynamic Price Alert with MTFA turned on.

For example, you can plot a “monthly” SMA 20 on a “daily” chart and trigger the alert on a “4 Hours” candle, hence making three time frames while creating a dynamic price alert.

1) The timeframe of the MTFA (secondary) trendline, level, or indicator you are creating the alert on

MTFA & Dynamic Price Alerts

2) The timeframe of the chart you created the alert on

MTFA & Dynamic Price Alerts

3) The confirmation candle timeframe to confirm which timeframe you want to be alerted on.

MTFA & Dynamic Price Alerts

For more information, please refer to the documentation on Create a Dynamic Price Alert

MTFA & Scanner

The Market Scanner makes it easy to scan for opportunities across multiple timeframes. By adding another dimension to your analysis, you can find opportunities that are attractive across the short, intermediate, and long-term rather than only within a single timeframe.

For more information, please refer to the documentation on- Multiple Timeframes & the Current Candle

MTFA & Scanner

MTFA Controls in Chart Legend

For any indicator or automatic technical capability activated on the chart, you can control the primary or secondary timeframes, by simply enabling or disabling them from the indicator list with a single left click.

The traders can use these controls and turn off the primary timeframe to concentrate exclusively on the indicator or any other automatic technical capability drawn on the secondary timeframe plotted on the current chart.

Note: TrendSpider remembers the selections for MTFA controls you make for symbol-specific indicators and for all charts.

MTFA Controls in Chart Legend

For example, if you want to exclusively view and focus on the auto trendline drawn on the secondary timeframe on the existing chart, then you can disable the primary timeframe from the indicator list. As a result of this action, the solid auto trend line belonging to the existing timeframe will no longer appear on the chart.

Toggle Off Primary Timeframe

Jun 29, 2022

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