Float MetaTrader indicator — a sophisticated forex indicator that analyzes the previous chart history for the given mt4 currency pair and then tries to analyze the market trends in the current situation. It shows where market trends start and end in a separate mt4 chart window and forex Fibonacci retracement levels combined with indicator DiNapoli levels on the mt4 main chart. It also shows how long ago the local chart high and low were detected. This forex indicator is available for MT4 and MT5.
Indicator Input parameters
- Float (main default = 200) — the number of bars to process for trend analysis. The lower number means more up-to-date data but less accurate analysis.
- ObjectPrefix (main default = “FI-“) — prefix for chart objects for compatibility with other indicators.
- DisableDinapoli (default = false) — if true, it won’t draw DiNapoli levels in the main chart window.
- DisableFibonacci (default = false) — if true, we won’t draw Fibonacci levels in the main chart window.
- DrawVerticalLinesAsBackground (main default = false) — if true, vertical lines for the trend start and end will be set as mt4 chart background to avoid concealing the chart itself.
Float indicator example
As you can see, the market trend’s start and end are marked clearly on the chart with this indicator. You can attach it, wait for the next trend’s beginning, and decide whether to buy or sell. Indicator Fibonacci retracement levels can be used for the target and stop-loss levels.
Float Forex Indicator Download
Warning! If you do not know how to set up this indicator, please read the MetaTrader Indicators Tutorial.
Do you have any suggestions regarding this forex indicator? You can always discuss Float with the other traders and MQL programmers on the indicators forums.