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FOREX INDICATOR Float

Indicator Float

Float MetaTrader Indicator - a fairly complex indicator, which analyzes the past history on schedule for a given currency pair and then tries to analyze the trends in current market situation. It shows the beginning and end of trends in a separate window graphics as well as Fibonacci retracement levels on the main window. It also shows how long ago were the local maximum and minimum.

Inputs:

  • float (default = 200) - the number of bars for trend analysis. The lower the number, the more current the data, but the analysis becomes less accurate.
  • use_fibos (default = 1) - if 1, the Fibonacci levels are drawn on the chart. If 0, the Fibonacci retracement levels will not be drawn on the chart.
  • Backtesting (default = 0) - does not affect anything.
indicator Float

As you can see, the beginning and end of the trend clearly marked on the chart this indicator. You can attach it and wait for the next trend and then decide whether to buy or sell. Fibonacci retracement levels can be used to set stop-loss and take profit.

Float.mq4

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