Float MetaTrader indicator | FREE Forex Trading Indicator
Float MetaTrader indicator a sophisticated indicator that examines previous chart history for the given currency pair and then attempts to analyse trends in the current situation It displays the beginnings and ends of the trends in a separate chart window, as well as the Fibonacci retracement levels combined with the DiNapoli levels on the main chart. It also shows how recently the local high and low were detected. This indicator is compatible with both MT4 and MT5.
- float (default = 200) — the amount of bars to process for trend analysis. The lower is the number the more current the data will be but the less accurate the analysis will be.
- use_fibos (default = 1) — if 1 then Fibonacci retracements will be drawn on chart. If 0 then Fibonacci retracements won’t be drawn on chart.
- Backtesting (default = 0) — doesn’t affect anything.
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As you can see, the trend’s beginning and the end are marked clearly on the chart with this indicator. You can attach it and wait for the beginning of the next trend and then decide whether to buy or sell. Fibonacci retracement levels can be used for the target and stop-loss levels.
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