OPEN-SOURCE SCRIPT
MTF VEGAS
The MTF Tunnel Vegas indicator is a multi-timeframe (MTF) technical analysis tool designed to help traders identify trends and key price zones. It is based on the Vegas Tunnel system, which uses three key exponential moving averages (EMAs) — the 144, 169, and 233-period EMAs — to create a dynamic tunnel or channel on the price chart.
The purpose of this tunnel is to highlight zones where price may react, either as support/resistance or as breakout levels. When price approaches, bounces off, or crosses the tunnel, it can signal potential trading opportunities, whether for continuation or reversal setups.
The MTF component means that the indicator overlays the tunnel from a higher timeframe directly onto the current chart, giving traders a clear view of the larger trend context without needing to switch between multiple charts. This allows for better alignment of short-term decisions with long-term trend dynamics.
Key features:
✅ Plots 144, 169, and 233-period EMA tunnels from higher timeframes
✅ Highlights dynamic zones of support and resistance
✅ Helps traders stay aligned with the dominant trend
✅ Reduces chart noise and improves trade filtering
The purpose of this tunnel is to highlight zones where price may react, either as support/resistance or as breakout levels. When price approaches, bounces off, or crosses the tunnel, it can signal potential trading opportunities, whether for continuation or reversal setups.
The MTF component means that the indicator overlays the tunnel from a higher timeframe directly onto the current chart, giving traders a clear view of the larger trend context without needing to switch between multiple charts. This allows for better alignment of short-term decisions with long-term trend dynamics.
Key features:
✅ Plots 144, 169, and 233-period EMA tunnels from higher timeframes
✅ Highlights dynamic zones of support and resistance
✅ Helps traders stay aligned with the dominant trend
✅ Reduces chart noise and improves trade filtering
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.