Indicator plotting in different time frames

• 04/29/2025 at 5:00 PM #246531
  Jose Prx

  Hi,

  I have created an indicator myself to be plotted together with price. This indicator requires calibrating some parameters (i.e. moving averages, ATR, etc) and I have done that using a Monthly prices chart.

  With the monthly chart calibration, Would it be possible to plot the indicator in a weekly or daily price chart, but calculated using the parameters derived from its  calibration in a monthly time frame? I mean, if the number of periods for a given average is 4 months, I want PRT to take 4 months instead of 4 weeks although I am using a weekly chart.  I assume this is going to give constant values  for a given month, but I am curious about whether this would be feasible to be done in PRT.

  If so, Is there any code I should add to the indicator’s script to make any adjustment?

  I do look forward to reading your replies.

  Thanks!

  

  Jose Prx

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  04/29/2025 at 6:26 PM #246551
  robertogozzi

  A generic custom indicator works on any timeframe, provided it doesn’t deal with bar timings. Example that you can use on any price chart and any timeframe:

  Sma = average[20,0](close) RETURN Sma AS "Sma"

  1 2	Sma = average[20,0](close) RETURN Sma AS "Sma"

  An indicator using more than one timeframe has to abide by the rule for Multi Time Frame support (MTF), which states that:

  1. the default timeframe (the one on the chart) must be the smallest timeframe among all those used in the indicator
  2. the other timeframes (up to 5 different TFs) must all be a multiple of the default timeframe.

  Rule 2 means that if your default timeframe (the one on the chart) is, say, 5 minutes, all the aother ones must be a multiple of 5, so you can use 10, 15, 20, 25, 30-minute, 1-hour etc…, but you cannot use a 7-minute timeframe as 7 is not a multiple of 5.

  That said, you can use the 1-hour timeframe on your chart and have your indicator work also on the DAILY timeframe, NOT the other way round.

  Example of a custom MTF indicator:

  Timeframe(Daily,UpdateOnClose) Sma = average[20,0](close) // Timeframe(default) SmaDef = average[20,0](close) // RETURN Sma AS "higher TF Sma",SmaDef AS "default TF Sma"

  1 2 3 4 5 6 7

  Timeframe(Daily,UpdateOnClose) Sma    = average[20,0](close) // Timeframe(default) SmaDef = average[20,0](close) // RETURN Sma AS "higher TF Sma",SmaDef AS "default TF Sma"

  it will plot 2 SMAs on your default chart (be it Daily or smaller):

  • the Dailly SMA
  • the default SMA  (which can be the same as the Daily one if use the indicator on a Daily TF)

  As to the MONTHLY (and YEARLY, as well)  timeframe, it doesn’t allow to use it on a WEEKLY default timeframe, maybe this is due to the first and last week of the month belonging partially to other months, but I’m just guessing.

   

   

   

   

  

  robertogozzi

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