All Frames Trend is an indicator that can be useful to a trader for a more complete assessment of the market situation. From its name you can already understand what it is intended for. With the help of this technical analysis tool, a trader can always track which trend prevails on a higher timeframe. To do this, you just need to make the appropriate settings.
In MT4, the All Frames Trend indicator is installed according to the usual scheme, which is provided for installing any instrument of this kind in the trading terminal. And now I will tell you about its settings.
All Frames Trend indicator parameters
Setting up the indicator allows you to use a number of variables.
The parameters from M1-use to D1-use are intended so that the trader can indicate the situation on which timeframes he is interested in. To do this, just put “1” in the appropriate field. For example, if a trader is trading on an hourly chart. At the same time, he wants to know what trend is observed on the daily chart. To obtain such information, you need to put one in the D1-use field.
Parameters from M1-per to D1-per are used to adjust the MA. Moving averages are used in the indicator algorithm. The trader needs to register their periods.
Variables Method and Price are used to indicate to the indicator which types of MA and prices the indicator should use in its calculations.
The last parameter is On_next_bar. If it is disabled, the indicator will use the current price in its calculations. If this parameter is activated, the calculations will start only after the candle closes.
How to use the indicator
On the price chart, it is presented as a broken line, the color of which can change.
It is very easy to use this indicator in trading. If, for example, on the working timeframe, a signal appears within the strategy to open a buy order, then to make a trading decision, you need to look at the color of the All Frames Trend indicator line. If it is blue, it means that the upward movement also prevails on the higher TF. This increases the quality of the signal, and therefore the likelihood of making a profit. We enter the market. If the line color is red, then it is better to refrain from opening a trading position.
We do the same when a signal for sale appears. But in this case, the indicator line should be colored red.
Of course, the All Frames Trend indicator is not intended to open orders solely based on its readings. But as a complement to the vehicle, it can be useful. First, evaluate his work in demo trading.