Multi Time Frame Moving Averages Indicator for MT4 and MT5

Written by Dominic Walsh · Published 17 Jun 2026 · Last updated 20 Aug 2026

The multi time frame moving averages indicator plots a single midline over price. It reads the chart you attach it to. Each value sits halfway between the highest high and the lowest low of a short window. Traders who watch a Donchian channel will know the shape.

This build ships as multi-time-frame-moving-averages-indicator-indicator-forexmt4systems.ex4 for MT4 and multi-time-frame-moving-averages-indicator-indicator-forexmt4systems.ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	1: Multi
Alerts	popup, push notification, email, sound
Inputs	7

What the Multi Time Frame Moving Averages Indicator draws on the chart

Multi names the only plot. It rides on the price chart in medium orchid, one line, no second pane. The value for each bar sits midway between the recent extremes.

Nothing else prints. No bands, no tags and no second line appear, so the chart stays readable when you stack other tools on top of it.

The line steps rather than curves. It holds flat while price stays inside the old range, then jumps the moment a new extreme lands.

• Multi: plot, medium orchid

How the Multi Time Frame Moving Averages Indicator calculates its values

The rolling high and low window

Period defaults to 7. For each bar the code scans that bar and the six before it. It keeps the highest high and the lowest low, then averages the pair. The result lands in the Multi buffer and nowhere else.

What the midline actually tracks

The line follows range, not an average of closing prices. A fresh high pulls it up at once. A fresh low drags it down the same way. Between those extremes the value holds still, which gives the plot its stair-step look.

The crossing check behind alerts

After each bar closes the code compares the two most recent closed bars against the line. A close below the midline followed by a close above it counts as bullish. The mirror case counts as bearish. Nothing about the drawn line changes when a cross happens.

How to read the signals

Read the slope first. A line stepping higher says the recent range keeps shifting up. A flat stretch says the last few bars stayed inside the old extremes.

Price above the midline puts you on the upper half of the recent range. Price below puts you on the lower half. Many traders use that split as a bias filter rather than an entry.

Because the window spans a handful of bars, the line hugs price closely. Raise Period when you want the midline to sit further from the candles.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

EnableAlerts starts on and EnablePopup starts with it. EnablePushNotify, EnableEmail and EnableSound remain off. SoundFile holds alert.wav, and the dispatcher fires at most one message per newly closed bar.

Every Multi Time Frame Moving Averages Indicator input

Core settings

Setting	What it does	Default
Period	Bars in the high and low scan; 7 keeps the line close to price, while 20 or more gives a slower reference.	7

Alert settings

Setting	What it does	Default
EnableAlerts	(see inputs panel)	on
EnablePopup	(see inputs panel)	on
EnablePushNotify	(see inputs panel)	off
EnableEmail	(see inputs panel)	off
EnableSound	(see inputs panel)	off
SoundFile	(see inputs panel)	alert.wav

Settings that fit your chart

Range midlines suit liquid markets. The EURUSD H1 chart in the screenshot gives a clean example. Majors on M15 through H4 behave much the same way. On a thin symbol a single wick resets the whole window, so the line jumps for reasons that have little to do with trend.

When the Multi Time Frame Moving Averages Indicator fails

A midline that knows only seven bars turns fast. In a range it flips from rising to falling every few candles. Each flip looks like a trend change that never arrives.

At the other extreme the line lags real reversals. Once a large bar prints a new low, that low anchors the window until it drops out. The midline keeps pointing down while price has already turned.

Nothing here reads a second timeframe. This build works on the chart you attach it to, so open another chart when you want a slower read.

The plot carries no direction of its own. It tells you where the recent range sits, and it says nothing about who controls the move.

Copy multi-time-frame-moving-averages-indicator-indicator-forexmt4systems.ex4 into MQL4/Indicators and multi-time-frame-moving-averages-indicator-indicator-forexmt4systems.ex5 into MQL5/Indicators, then restart the terminal and drag the Multi Time Frame Moving Averages Indicator onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Related on forexmt4systems.com: Multi-Timeframe Strategy.

Download the Multi Time Frame Moving Averages Indicator for MT4 and MT5

The zip multi-time-frame-moving-averages-indicator-indicator-forexmt4systems.zip holds multi-time-frame-moving-averages-indicator-indicator-forexmt4systems.ex4, multi-time-frame-moving-averages-indicator-indicator-forexmt4systems.ex5 and a short README, compiled files only. Enter your email below and the download link arrives in your inbox.

FAQ

What does the Period input change on the Multi line?

It sets how many bars feed the high and low scan. A smaller number glues the Multi line to price and produces more crosses. A larger number widens the window, so the midline sits further away and steps less often. Most traders adjust it to match the swing size they trade.

Does the Multi plot repaint once a bar closes?

No. Each value comes from that bar and the six before it, all of them finished, so a printed value stays put. The newest bar still updates while it forms. That behaviour is normal for any tool reading a running high and low.

Can I run the midline on EURUSD H1 for intraday work?

Yes. The screenshot uses EURUSD H1 and the line reads cleanly there. Intraday traders often pair it with a slower reference on a separate chart, since this build measures only the timeframe it sits on. Watch the session opens, where the window resets fast.

Which channel does EnablePopup control?

It drives the terminal popup box and nothing else, and it starts switched on. Push messages, e-mail and the sound file each carry their own switch, and all three start off. EnableAlerts sits above the group, so turning that one off silences every channel at once.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Multi Time Frame Moving Averages Indicator as one input. Always backtest before trading live.