Discover the Float Indicator for MetaTrader 4 — a powerful tool designed for traders who want to enhance their market analysis. This sophisticated indicator dives deep into historical chart data for your chosen currency pair, helping you identify trend beginnings and endings right within a dedicated chart window. It incorporates Fibonacci retracement levels along with DiNapoli levels, providing a comprehensive view of market movements. Plus, it shows how recently local highs and lows were established. You can use this indicator on both MT4 and MT5 platforms.
Keep in mind that the Float indicator repaints its levels based on the last 200 bars by default. This means its detection of new peaks or troughs may change as the market evolves, so it’s not advisable to rely solely on these signals for trading decisions. Instead, use it as a tool for analyzing trend swing durations and pinpointing significant chart levels.
Input Parameters
- Float (default = 200) — The number of bars processed for trend analysis. A lower number means more current data but less accuracy.
- ObjectPrefix (default = "FI-") — This prefix helps ensure compatibility with other indicators.
- DisableDinapoli (default = false) — Set to true to hide DiNapoli levels from the main chart.
- DisableFibonacci (default = false) — Set to true to hide Fibonacci levels from the main chart.
- DrawVerticalLinesAsBackground (default = false) — Set to true to draw vertical lines as background, preventing them from obscuring your chart.
- SwingBorderColor (default = clrBlue) — The color for the swing zone borders.
- SwingBorderWidth (default = 1) — The thickness of the swing zone borders.
- SwingBorderStyle (default = STYLE_SOLID) — The line style for swing zone borders.
- SwingLinesColor (default = clrRed) — The color of the swing lines.
- SwingLinesWidth (default = 1) — The thickness of the swing lines.
- SwingLinesStyle (default = STYLE_DOT) — The line style for swing lines.
- FiboColor (default = clrGreen) — The color of the Fibonacci levels.
- FiboWidth (default = 1) — The thickness of the Fibonacci levels.
- FiboStyle (default = STYLE_DASH) — The line style for Fibonacci levels.
- DinapoliColor (default = clrRed) — The color of the DiNapoli levels.
- DinapoliWidth (default = 1) — The thickness of the DiNapoli levels.
- DinapoliStyle (default = STYLE_DOT) — The line style for DiNapoli levels.
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