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Mediana & Parallel Lines Multi-Timeframe (MTF Channel)
Description
Mediana & Parallel Lines MTF is a visual indicator for MetaTrader 5 that draws parallel channels directly on the current chart, based on the last two closed candles of higher timeframes (Monthly, Weekly, Daily, H4, H1, M30, M15).
Each channel consists of 3 parallel trend lines:
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- Median Line – drawn through the midpoint (Open+Close)/2 of the last two closed candles of the selected timeframe;
- High Line – parallel to the median, starting from the High of the second-to-last candle;
- Low Line – parallel to the median, starting from the Low of the second-to-last candle.
The slope of all three lines is identical, calculated from the change in the median between the two reference candles. This provides a simple, clear visual projection of the direction/trend of that timeframe, automatically extended into the future (ray right).
Key Features
- Supports 7 timeframes simultaneously: MN1, W1, D1, H4, H1, M30, M15 — each can be enabled/disabled independently.
- Individual color for each timeframe, fully configurable from inputs.
- Configurable line width and style (LineWidth, LineStyle), applied globally.
- Automatic safety rule: a timeframe's channel is only displayed if that timeframe is higher than the current chart timeframe (e.g. the Daily channel won't appear if you're already viewing the D1 chart or higher) — prevents irrelevant/redundant data from being shown.
- Performance optimized: calculation logic runs only once per new bar (not on every tick), allowing smooth operation across dozens of charts simultaneously without lag.
- Auto-cleanup: all graphical objects are automatically deleted when the indicator is removed from the chart ( OnDeinit ).
- Info panel: displays a list of currently active channels in the chart corner (via Comment ).
- No repaint — relies exclusively on already closed candles (index 1 and 2).
Input Parameters
Timeframe Selection (True/False)
| Parameter | Default | Description |
|---|---|---|
| Show_MN1 | true | Show Monthly Channel |
| Show_W1 | true | Show Weekly Channel |
| Show_D1 | true | Show Daily Channel |
| Show_H4 | false | Show H4 Channel |
| Show_H1 | false | Show H1 Channel |
| Show_M30 | false | Show M30 Channel |
| Show_M15 | false | Show M15 Channel |
Channel Colors
| Parameter | Default |
|---|---|
| Color_MN1 | Red |
| Color_W1 | Orange |
| Color_D1 | Yellow |
| Color_H4 | Lime |
| Color_H1 | Aqua |
| Color_M30 | DeepSkyBlue |
| Color_M15 | Magenta |
Line Style Settings
| Parameter | Default | Description |
|---|---|---|
| LineWidth | 2 | Line width |
| LineStyle | STYLE_SOLID | Line style (solid, dash, dot, etc.) |
How to Use
- Attach the indicator to any chart (ideally on lower timeframes, such as M15–H1, to see higher timeframe channels projected over current price).
- Enable/disable the desired timeframes from the input properties window.
- Customize colors and line style as preferred.
- Channels update automatically whenever a new candle forms on the current chart.
Recommendations
Useful for traders applying multi-timeframe top-down analysis, providing a quick visual representation of the direction and magnitude of price movement on higher timeframes, overlaid directly on the execution chart.
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