Advanced MTF Bollinger Bands

• Bollinger Bands - multiple timeframes
• Indicator used - Bollinger Bands

Traditional multiple timeframe indicator always has an issue of REPAINTING when a trader wants to establish his/her strategy using Multi-Time-frame (MTF).

Generally, you should know how the MTF indicator re-paints. But I will explain with the following example:

Suppose that you are using traditional MTF Bollinger Bands (H4) in (H1) chart. At 15:20, the Bollinger Bands (H4) middle band dropped from 1.30590 to 1.30550 in EURUSD. Now what happens on H1 chart?.. The Bollinger Bands middle band for the candles 13:00, 14:00 and 15:00 will drop from 1.30590 to 1.30550. Similarly, if the current chart is M15 and desired timeframe is H4, the Bollinger Bands middle band for the last 14 candles will drop from 1.30590 to 1.30550.

Here, we present a solution by introducing a non-repainting MTF Bollinger Bands indicator. We cannot explain the idea but we can guarantee no repaints on closed bars. In this indicator, the Multi Time frame will only affect current bar's bands value.

Supported timeframes: M1, M5, M15, M30, H1, H4, D1, W1 and MN1.

The other benefit of using this indicator is that you can view higher timeframes' Bollinger Bands in current timeframes chart in Visual Back-Testing (please see the screenshot).

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