Forex timeframe indicator.

A trader's terminal is designed for trading on a specific timeframe, but sometimes it's useful to monitor the situation on adjacent timeframes. Alternatively, you can switch between timeframes. However, it's better to use a timeframe indicator.

A timeframe indicator makes Forex trading more convenient and therefore more effective. It allows you to highlight your specified timeframes, thereby facilitating analysis.

It is typically used for trading short timeframes, using scalping . Trading is conducted on M15, while simultaneously monitoring the situation on M5 and M1. Typically, the direction of the future trade is chosen on the main timeframe, while entry points are sought on shorter ones.

Download the timeframe indicator .

After installing it on a chart with default settings, several windows will appear, each characterizing its own timeframe.

Basic settings.

For the indicator to work correctly, only a few parameters need to be changed.

TimeFrames – enter the timeframes you want to see on the chart, separated by a space, for example, M1, M5, H1.

ChartsGap – the distance between adjacent timeframes.

RectColor – the color of the indicator itself; blue is set by default.

Correct operation of the indicator is possible only if the timeframes selected in the timeframe indicator settings are shorter than the working timeframe.

After trying this tool, I would like to express my opinion: the script is rather inconvenient to use, and the windows that appear sometimes interfere with monitoring the working timeframe .