CastAwayTrader

MTF Cycle Trader

The MTF Cycle Trader indicator identifies four different cycles that drive price under the surface.
Sometimes cycles are not synchronized.
We may get conflicting cycles. For example an up cycle on 60 min time frame will fight with a down micro cycle on 5 min time frame.
However, from time to time cycles get synchronized. They reach the highest point or lowest points at major turning points, peaks and troughs in price.
And this is what this indicator is intended for. It keeps scanning underlying cycles in order to pin point moments when three or four underlying cycles align at peaks or troughs.
Sometimes, price only produces minor pullbacks off those strong Resistance x 3 or Resistance x 4 levels.
That means that there are bigger up cycles on Daily or Weekly time frame that are so powerful that they overcome resistance from three or four down cycles on lower time frames.
In a similar way, price may not respect strong Support x 3 or Support x 4.
That happens when there are stronger down cycles on Daily or Weekly time frames. They are so powerful so they exceed upward pressure from three or four up cycles on lower time frames.

IMPORTANT DISCLAIMER:

The indicator provides trade set-ups and alerts that are for educational and hypothetical purposes only and shall not be considered trade recommendations.
Any signals or trading setups drawn by the indicator is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of the indicator must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision.

CastAway Trader, the publisher of this indicator is not registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority.

CastAway Trader reserves the right to un-publish this indicator or change it without any written notice.

Past results are not indicative of future profits.
Release Notes: ver 2.0, 11 May 2022
added alerts for quadruple and triple support and resistance
Release Notes: 22 May 2022
changed Double Supp0rt and Resistance signals, fixed several bugs
Release Notes: 25 May 2022
Added overbought signal (red background) and oversold signal (green background)
Release Notes: 3 Jun 2022
Added hypothetical Buy 1, Buy 2, Sell 1, Sell 2 signals.
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The indicator generates signals, trade set-ups and alerts that are for educational and hypothetical purposes only and shall not be considered trade recommendations.
Any signals or trading setups drawn by the indicator is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of the indicator must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision.
Release Notes: v.2.0 published 15 Nov 2022
added multi timeframe Overbought and Oversold signals
You can set alerts for Overbought and Oversold signal in the menu

Invite-only script

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Disclaimer

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Author's instructions

contact CastAwayTrader to test the indicator

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