The RPS MTF (ReversPointStivenMTF) indicator is the multitimeframe version of the RPS indicator, which is based on the ZigZagPointer and OscillatorJordan indicators.

When the oscillator readings change near the extreme point, a signal in the form of an arrow appears on the chart. This allows you to avoid false signals and define market entry/exit points more accurately. Sometimes, the indicator generates signals without displaying an arrow. Such signals forecast the continuation of a trend. The distinctive feature of this indicator is that it allows viewing signals from other timeframes, it allows analyzing up to three timeframes simultaneously.

Input parameters

• Timeframe - working timeframe. You can set a higher timeframe than the current one. In that case, the signals are more rare but more accurate;
• Periods - oscillator period. The smaller the value, the faster the indicator reacts to changes;
• ExtDepth - zigzag indicator settings. This is the lowest number of points between the extreme points (Highs and Lows) of two adjacent candles for forming a local bottom or top (in %);
• ExtDeviation - zigzag indicator settings. Define the interval or number of candles after a previous indicator's extreme point, at which no search for a new extreme point is performed.
• ExtBackstep - zigzag indicator settings. This is the minimum value of the number of candles between all local extreme points (Highs or Lows).
• Timeframe2 - the second working timeframe.
• Periods2 - period of the oscillator on the second timeframe.
• ExtDepth2 - zigzag settings for the second timeframe.
• ExtDeviation2 - zigzag settings for the second timeframe.
• ExtBackstep2 - zigzag settings for the second timeframe.
• Showalert - enable alerts (yes/no).
• SendPush - send notifications (yes/no).
• SendMailInfo - send notification to email (yes/no).