HTF BIAS FILTER

10 ore fa

🧭HTF Bias Filter Indicator: 5 in 1 indicator

Technical Overview

The Bias Filter is a comprehensive multi-timeframe tool designed to confirm directional bias using five key indicators before entering a trade. It plots higher-timeframe Moving Averages directly on the chart and provides an immediate status summary via a static dashboard.

The more confluence on the dashboard, the greater the probability of the direction of the trade.

1. 📊 Display Components
A. Plotted Lines
The indicator uses the request.security function to draw Moving Averages from higher timeframes onto your current chart:

1H EMA 21 (Purple): The 21-period Exponential Moving Average calculated on the 1-Hour (60 min) chart. Plotted using a step-line style.

4H EMA 50 (Red): The 50-period Exponential Moving Average calculated on the 4-Hour (240 min) chart. Plotted using a step-line style.

B. Directional Dashboard
A fixed-position summary table is anchored to the bottom-right corner of the chart, providing a quick glance at the current status of all five filters.

2. 🎨 Colour Logic
Each of the five indicators is assigned a colour based on its current directional signal. The more indicators that show the same colour (confluence), the stronger the signal and the higher the likelihood of a high-probability trade.

🟢 Green indicators are signaling UP/BUY (Bullish momentum or trend).

🔴 Red indicators are signaling DOWN/SELL (Bearish momentum or trend).

⚫ Gray indicators are signaling Mixed or flat directions (neutral or undecided).

Note: The dashboard's main header color is determined by a strict confluence logic (All four 4H filters must align for Green/Red), while individual indicator colors follow the simple rules above.

3. 📋 Indicator Breakdown and Logic
The dashboard provides the direction of five different filters.

3.1. Higher-Timeframe (HTF) Trend Indicators
These two signals determine the immediate slope and direction of the primary Moving Averages:

4H EMA 50:

Timeframe: 4-Hour (240 min)

Logic: Compares the current EMA value to the value two bars ago on the 4H chart.

Output: UP ↑, DOWN ↓, or FLAT ⏸

1H EMA 21:

Timeframe: 1-Hour (60 min)

Logic: Compares the current EMA value to the value two bars ago on the 1H chart.

Output: UP ↑, DOWN ↓, or FLAT ⏸

3.2. 4-Hour Confluence Filters
These three indicators provide supplementary confirmation on Volume, Price Position, and Momentum, all calculated on the 4-Hour (240 min) chart:

4H OBV (Smoothed):

Timeframe: 4-Hour (240 min)

Logic: Direction is based on the current value of the 21-bar smoothed On-Balance Volume (OBV) compared to its value nine bars ago.

Output: UP ↑, DOWN ↓, or FLAT ⏸

4H ATR DIR (EMA Proxy):

Timeframe: 4-Hour (240 min)

Logic: Determines the price position by comparing the current Close price against the 4H EMA 50.

Output: BUY 🟢 (Close > EMA 50), SELL 🔴 (Close < EMA 50), or FLAT ⏸️ (Close = EMA 50).

4H RSI (14):

Timeframe: 4-Hour (240 min)

Logic: Momentum check comparing the 14-period Relative Strength Index (RSI) value against the 50 level.

Output: BUY 🟢 (RSI > 50), SELL 🔴 (RSI < 50), or FLAT ⏸️ (RSI = 50).

6 ore fa

Note di rilascio

🧭HTF Bias Filter Indicator: 5 in 1 indicator

Technical Overview

The Bias Filter is a comprehensive multi-timeframe tool designed to confirm directional bias using five key indicators before entering a trade. It plots higher-timeframe Moving Averages directly on the chart and provides an immediate status summary via a static dashboard.

The more confluence on the dashboard, the greater the probability of the direction of the trade.

1. 📊 Display Components
A. Plotted Lines
The indicator uses the request.security function to draw Moving Averages from higher timeframes onto your current chart:

1H EMA 21 (Purple): The 21-period Exponential Moving Average calculated on the 1-Hour (60 min) chart. Plotted using a step-line style.

4H EMA 50 (Red): The 50-period Exponential Moving Average calculated on the 4-Hour (240 min) chart. Plotted using a step-line style.

B. Directional Dashboard
A fixed-position summary table is anchored to the bottom-right corner of the chart, providing a quick glance at the current status of all five filters.

2. 🎨 Colour Logic
Each of the five indicators is assigned a colour based on its current directional signal. The more indicators that show the same colour (confluence), the stronger the signal and the higher the likelihood of a high-probability trade.

🟢 Green indicators are signaling UP/BUY (Bullish momentum or trend).

🔴 Red indicators are signaling DOWN/SELL (Bearish momentum or trend).

⚫ Gray indicators are signaling Mixed or flat directions (neutral or undecided).

Note: The dashboard's main header color is determined by a strict confluence logic (All four 4H filters must align for Green/Red), while individual indicator colors follow the simple rules above.

3. 📋 Indicator Breakdown and Logic
The dashboard provides the direction of five different filters.

3.1. Higher-Timeframe (HTF) Trend Indicators
These two signals determine the immediate slope and direction of the primary Moving Averages:

4H EMA 50:

Timeframe: 4-Hour (240 min)

Logic: Compares the current EMA value to the value two bars ago on the 4H chart.

Output: UP ↑, DOWN ↓, or FLAT ⏸

1H EMA 21:

Timeframe: 1-Hour (60 min)

Logic: Compares the current EMA value to the value two bars ago on the 1H chart.

Output: UP ↑, DOWN ↓, or FLAT ⏸

3.2. 4-Hour Confluence Filters
These three indicators provide supplementary confirmation on Volume, Price Position, and Momentum, all calculated on the 4-Hour (240 min) chart:

4H OBV (Smoothed):

Timeframe: 4-Hour (240 min)

Logic: Direction is based on the current value of the 21-bar smoothed On-Balance Volume (OBV) compared to its value nine bars ago.

Output: UP ↑, DOWN ↓, or FLAT ⏸

4H ATR DIR (EMA Proxy):

Timeframe: 4-Hour (240 min)

Logic: Determines the price position by comparing the current Close price against the 4H EMA 50.

Output: BUY 🟢 (Close > EMA 50), SELL 🔴 (Close < EMA 50), or FLAT ⏸️ (Close = EMA 50).

4H RSI (14):

Timeframe: 4-Hour (240 min)

Logic: Momentum check comparing the 14-period Relative Strength Index (RSI) value against the 50 level.

Output: BUY 🟢 (RSI > 50), SELL 🔴 (RSI < 50), or FLAT ⏸️ (RSI = 50).