As a Newbie, this is giving me the S****
Please see attached graphs, and hope someone can explain?
Welcome to inconsistency! It’s normal that charts on different timeframes show different values.
First it’s because of different data. Take a look at 4H chart then 1H chart, price bars are already different. All High, Low, Close and Open prices are different. 1 bar of 4H chart represents 4 hours of prices, whereas 1H chart represents 1 hour of prices.
Second it’s because of indicator’s settings. On 4H chart, RSI of 14-bar period takes 56 hours of price data into calculation, whereas on 1H chart, RSI of 14-bar period takes only 14 hours of price data into calculation. Difference of 56 hours and 14 hours is substantial.
Not only is RSI different, but all other indicators such as moving average, adx, cci, fractals and macd are also. Fortunately, there’re multi-timeframe indicators available for mt4 that can take values from higher timeframe (e.g. 4H) to show in lower timeframe (e.g. 1H).
Download them multi-timeframe indicators
Thanks I see they say that it’s not possible to have Shorter Time Frames on the Indicators??
Not possible???