Recursive Multiple Timeframe Example - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources
The purpose of this indicator is to demonstrate to newcomers the structure of a recursive multi-timeframe indicator in a friendly manner.
The function responsible for the indicator calculation itself can be easily replaced.
It is also possible to take advantage of the function responsible for downloading multi-timeframe data and, if modified correctly,
It is also possible to create multi-symbol implementations.
2024.02.06: Fixed bug in cap time range value synchronization.
Additionally, the indicator now uses the closing value of the previous bar. This is a practical way to avoid price fluctuations on the current bar.
Attachment download
📎 mtf_by_recursion_example.mq4 (14.61 KB)
Source: MQL5 #47556
Recursive multiple time range example - MetaTrader 4 script | Trading script download - MT4/MT5 resource usage and screening suggestions
Recursive multiple time range example - MetaTrader 4 script | Trading script download - MT4/MT5 resources are trading script related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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