Multi Timeframe Ichimoku

The naive way to build a multi-timeframe overlay is to call the higher timeframe indicator once per current-chart bar and connect the results with a smooth line. That is dishonest: the underlying Ichimoku value has not actually moved between the four or twenty-four M15 bars that make up one H4 bar, so a smooth line invents motion that never happened. This indicator instead maps every current-chart bar onto the higher timeframe bar that contains it, with iBarShift(), and reads that one higher-timeframe value - the result is a flat step for the duration of each higher-timeframe bar, which is what the data genuinely supports. All four Ichimoku values (Tenkan-sen, Kijun-sen, Senkou Span A, Senkou Span B) come from the platform's own built-in Ichimoku calculation, run on the higher timeframe, so the maths is exactly the standard calculation with no reimplementation risk. The cloud between Span A and Span B is drawn with DRAW_FILLING so it reads the same way the native Ichimoku indicator's cloud does. Chikou Span is deliberately omitted. It is already a backward-shifted plot on its native timeframe; re-shifting a backward-shift across a second, different timeframe would put it at a bar position no trader could reason about, so leaving it out is more honest than guessing at where to draw it. Notes and limitations - Every value updates the instant the higher-timeframe bar it belongs to is still forming - exactly like watching that timeframe directly. Tenkan-sen and Kijun-sen for the most recent higher-timeframe bar will still move until that bar closes; this is inherent to any multi-timeframe read, not a bug, and is the same behaviour you would see opening that timeframe's chart directly. - The forward-projected portion of the cloud that extends into space beyond the most recent price bar is not drawn. Reproducing it would mean plotting into currently empty future bars on the current chart, which needs a separate shifted-plot mechanism and was left out to keep this indicator to a single, honest responsibility: showing the higher timeframe's cloud over bars that already exist. - If history for the chosen higher timeframe has not fully loaded (thin history on a fresh chart), the indicator returns without drawing rather than plotting a flat zero line - scroll left or wait for the terminal to fetch more history.

Indicator · MT4 · v1.0 · Free

Tags: Scalping · Ichimoku · Multi-Timeframe (MTF) · MT4 Indicator · MQL4 Source Code

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