EMA Level MTF - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

There seems to be a serious lack of multi-timeframe versions of MetaTrader 5 indicators at the moment. For no real reason, there is also a multi-timeframe version here.

This is a multi-timeframe version of the EMA level .

The supported timeframes are all possible timeframes supported by MetaTrader 5, which has 3 "special" timeframes:

If you use some of these 3 time ranges, the time range will be set automatically when you change the chart's time range.

An option that sometimes causes some confusion is interpolation.

Interpolation only works in multi-timeframe mode. Instead of displaying the data as a staircase like on the chart, it uses linear interpolation to make the display smoother. When it's closed, the example above looks like this:

Some people think it produces wrong values. This is actually incorrect. If we compare the "classic" way of displaying multi-timeframe data (the "staircase" way) and interpolating multi-timeframe data, the number of precise points guaranteed is exactly the same: 1 per timeframe. The rest is repeated in a step-like way, at the bars where the value does not exist, the interpolation way is to adjust these values ​​in a more logical ("smoother") way, and in most cases it is closer to what happens at runtime than the classic multi-timeframe way.

Attachment download

📎 ema_levels_mtf.mq5 (18.72 KB)

Source: MQL5 #20521