Theory :

This one was published long time ago using Kalman filter name (among other publications, you can check this one too : Kalman filter - a version for mt4). Kept the name and made it multi time frame.

Multi time frames are having, apart from all the standard multi time frames that can be used in metatrader 5, 3 additional "time frames" :

• first higher time frame (first time frame higher than the current chart time frame)
• second higher time frame (second time frame higher than the current chart time frame)
• third higher time frame (third time frame higher than the current chart time frame)

PS: the color of the indicator is nor based on the slope of the indicator, but on the internal "velocity" that is calculated in the process of calculating this indicator

Usage :

You can use color changes as signals