Multi Time Frame Zone Drawing - Premium Indicator

Now, to draw a RED zone, you need to follow almost similar steps. However, this time, you will click on the ‘RED zone’ button, which is shown in Image 4, indicated by the red upward arrow. After you draw the RED zone, pointed to by the light blue downward arrow in Image 5, it will also plot its timeframe label (Image 5, yellow downward arrow). At the same time, it will plot the red zone rectangle on the top-right corner of the time periods’ column, which is indicated by the red rightward arrow. This time, you will see the ‘%’ value there. This is because you have now drawn both GREEN and RED zones on either side of the market price, and the number figure represents where the current market price is between those nearest zones (Image 9, where the current market price is indicated by the white leftward arrow, and the ‘%’ value is pointed to by the yellow rightward arrow).

If you move any of these zones for any reason, the ‘%’ value will change accordingly. If you manually remove a zone or it is automatically removed, the ‘%’ figure will also be removed to reflect the change. However, if a zone of the same colour still exists after any removal, the ‘%’ value will adjust based on the nearest two opposite-coloured zones. 

If you want to delete any zone, you can simply right-click on the specific zone’s area, which will display the ‘Delete’ menu (Image 6, indicated by the white downward arrow). You can then left-click on that option to delete the zone manually. 

If you want to move the location of a zone, simply left-click once on the area of the zone, then drag it to your desired location (please remember to keep the GREEN zones below the market price and RED zones above the market price) and left-click once more to release the zone at its final position. When you left-click initially to move the zone, its area will be highlighted with a border, as shown in Image 7, indicated by the red downward arrow. 

To resize the height or width of the zone, simply left-click on the top-left or bottom-left corner of the zone once. It will display two points, as shown in Image 8, within the light blue rectangle. You can then move the mouse cursor to adjust the size of the zone as desired. Once satisfied with the new size, left-click once more to release the zone. Please remember that all zones continue to plot on the right margin unless any changes are made. 

It’s important to remember that any zone drawn on a lower timeframe will not be visible when you are on higher timeframe charts (Image 10, where zones drawn on a lower timeframe chart are not visible on a higher timeframe chart). However, you can still access the zone-related information in the top-right column, where the ‘%’ values are plotted (Image 10). 

If you draw GREEN and RED zones on this higher timeframe, they will be displayed on the same higher timeframe chart while you are there (Image 11), as the drawn zones’ timeframe and the chart timeframe are the same. 

Although the zones drawn on lower timeframe charts are not visible on higher timeframe charts, the zones drawn on higher timeframe charts are visible on lower timeframe charts. In Image 12, you can see the higher timeframe zones, which are pointed to by white upward arrows, and the respective timeframe labels are also visible alongside the zones for proper identification. 

Similar changes occur if you are on a lower timeframe chart and the price touches the zones drawn on a higher timeframe (Image 17, pointed to by yellow arrows). The top-right corner ‘%’ column rectangle colours will also reflect this change (Image 17, red rightward arrow). However, if you are on a lower timeframe chart and the market price passes through the outer edge of a higher timeframe one, it will be removed from the lower timeframe chart (Image 18, where the zone previously drawn around the white rectangle area is removed). The top-right corner column’s rectangle for the higher timeframe will also be removed simultaneously (Image 18, red rightward arrow). However, if you navigate to that specific higher timeframe chart, you will still be able to see the zone (Image 19, pointed to by the white downward arrow), although it will have stopped plotting further to the right.

Please note: Currently, this indicator can be used on any instrument, but it only works with the following timeframes:15 min, 60 min, 240 min, Daily, Weekly, Monthly, and 3-Monthly. If you attempt to use it with any other timeframe, a reminder message will be displayed (Image 20) so that you can adjust the chart timeframe accordingly. Additionally, any zone drawn will be saved if you close the chart or platform, and it will be restored when you restart your NinjaTrader 8 platform in its previous state.