Float MT5
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Float MT5
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Float MetaTrader indicator
— a sophisticated indicator that analyzes the previous chart history for the given currency pair and then tries to analyze the trends in the current situation. It shows where trends start and end in a separate chart window and Fibonacci retracement levels combined with DiNapoli levels on the main chart. It also displays how long ago the local high and low were detected. This indicator is available for MT4 and MT5.
The indicator repaints its levels based on all the bars it analyzes (200 by default). This means that you cannot use its detections of new peaks or troughs as trading signals as they will be revised based on how market situation develops further. This indicator should be used only for the analysis of trend swing durations and important chart levels.
Input parameters
Float
(default = 200) — the number of bars to process for trend analysis. The lower is the number means more up-to-date data but less accurate analysis.
ObjectPrefix
(default = "FI-") — prefix for chart objects for compatibility with other indicators.
DisableDinapoli
(default = false) — if true, then DiNapoli levels won't be drawn in the main chart window.
DisableFibonacci
(default = false) — if true, then Fibonacci levels won't be drawn in the main chart window.
DrawVerticalLinesAsBackground
(default = false) — if true, vertical lines for trend start and end will be set as chart background to avoid concealing the chart itself.
SwingBorderColor
(default = clrBlue) — the color of the swing zone borders.
SwingBorderWidth
(default = 1) — the width of the swing zone borders.
SwingBorderStyle
(default = STYLE_SOLID) — the line style for the swing zone borders.
SwingLinesColor
(default = clrRed) — the color of the swing lines.
SwingLinesWidth
(default = 1) — the width of the swing lines.
SwingLinesStyle
(default = STYLE_DOT) — the line style for the swing lines.
FiboColor
(default = clrGreen) — the color of the Fibonacci levels.
FiboWidth
(default = 1) — the width of the Fibonacci levels.
FiboStyle
(default = STYLE_DASH) — the line style for the Fibonacci levels.
DinapoliColor
(default = clrRed) — the color of the DiNapoli levels.
DinapoliWidth
(default = 1) — the width of the DiNapoli levels.
DinapoliStyle
(default = STYLE_DOT) — the line style for the DiNapoli levels.
