jiva34

Active Trader
Sep 15, 2009
1
0
32
TN USA
what does the float measure

the indicator at bottom of chart called float. also the legend where it says float volume is such and such and then float volume left is such and such...
what is this float volume? can someone explain. I am using the indicator and fibs very successfully. As it fits my trading style. It is very helpful for me. But I would like to understand it a little better....
Thank you. Earn Forex is a very good site.
 

heisami

Active Trader
Oct 29, 2009
2
0
32
Can some one explain to me how exactly does the float make its calculations and decide the start and end of the trend cycle....and very importantly does it repaint? How does one place the stops if trading the 4 hour charts using this indicator...is the target kept open till the float indicator indicates the end of the cycle??? Thanks in advance
 

Enivid

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You can browse its code to see the exact formulas. In short - it find the tops and bottoms. As far as I see it doesn't repaint. You can use Fibonacci levels for targeting or - yes, just wait for the trend to end.
 

ronald123

Trader
Feb 24, 2013
2
0
12
Hi. I know this is an old thread, but just came across this indicator on the internet right now. Curious about the input parameter and its description: "Backtesting (default = 0) — doesn't affect anything." It doesn't say what it does when set to '1'...

Cheers
 

Enivid

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If Backtesting = 1, it will start recording indicator's internal variables into MetaTrader's global variables (that can be seen by pressing F3). I believe the author of the Float indicator has used it for debugging of some kind.

Setting Backtesting to 1 will not affect the indicator's display or calculation.
 

boa_conflictor

Master Trader
Aug 5, 2016
75
9
69
Although this thread is kind of antique, recently i did see this indicator and it seems kind of interesting to say the least.

When i attached the indicator which its basic settings to the chart, i did notice that the 1st and last bars of a swing don't show because of the fibonacci window.
But when i clicked on the properties of the vertical trendlines and enabled "sign this object in the background" the bars showed.
Is it possible to adjust this as an extra feature in the indicator?

Also i would i like to ask if it's possible to add an extra option to disable the DiNapoli lines by choice?
 
Last edited:

Enivid

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Although this thread is kind of antique, recently i did see this indicator and it seems kind of interesting to say the least.

When i attached the indicator which its basic settings to the chart, i did notice that the 1st and last bars of a swing don't show because of the fibonacci window.
But when i clicked on the properties of the vertical trendlines and enabled "sign this object in the background" the bars showed.
Is it possible to adjust this as an extra feature in the indicator?

Also i would i like to ask if it's possible to add an extra option to disable the DiNapoli lines by choice?

Please check the attached modification if does the job.
 

Attachments

  • Float.mq4
    35.3 KB · Views: 18

RauHer

Trader
Jan 21, 2023
11
0
12
39
Hi,
Thank you for posting this float indicator. I have a few suggestions/requests/questions.

1. Is it possible to add alerts to this indicator so that when the trend changes, a change in value is calculated within or on the indicator and an alert/arrow is shown?

2. Is it possible to add a trend direction component so that an entry of the right type can be made on the alert/arrow?

3. Is it possible to add the "Vline" element referenced in the code to the original code as an option to trade the swings for multiple entries, reverse trend trading, adding to positions, averaging, scaling in and out of trades, etc.?

4. Is it possible to add multiple floats (at least 9 for the nine time frames), like the ribbon MA indicator has multiple moving average inputs, with the features referenced above to target these swings?

5. Is it possible to generate buy, sell and exit signals for the different float periods using these additions?

6. Is it possible to do a float based currency strength matrix for the 9 time frames to generate buy and sell signals on each time frame like the currency strength matrix does with these additions?

7. Is it possible to add the option to enable or disable hedging for buy only/sell only trend direction trading or both directions for hedging purposes as an option on the indicator with these additions?

8. Is it possible to add an input option that can be enabled or disabled for an optimizer/machine learning/self learning algorithm function to optimize the different float periods, "Vline" elements, multiple entries, scaling in and out of trades, reverse trend trading, averaging etc. and the risk management suite (see below) for minimal drawdown, max profit, max profit factor, etc. that runs automatically at one or several chosen times each day or days each week or weeks each month or months each year (seasonality) as well as their combinations that can also be run manually from within the input form on the indicator and on an expert advisor with these additions?

9. Is it possible to format the indicator in a way that allows it to be used on "www.eabuilder.com" for inclusion in a custom indicator or expert advisor? (I haven't yet become a master coder so please forgive my, perhaps, inexperienced requests if you can.)

As a work in progress expert advisor can the following also be added to the list above and be fully automated?:

10. Is it possible to add the gamut of risk management protocols?: spread, slippage, commissions per trade, instrument info, stop losses, break evens, trailing stops, trailing steps, percentage risk per trade, fixed lot, percentage lot, take profits, martingale lot increase or decrease, adding to positions, averaging, scaling in and out of trades, max drawdown per variable and their multiples: (M1, M5, M15, M30, H1, H4, D1, W1, MN), news filter, open and close trades "(variable)" minutes before and after news announcements, etc. (anything else you can think of)?

11. Can the 28 pairs of the 8 majors and XAUUSD be traded simultaneously as an option within the input form of the expert advisor using optimized parameters for each pair to maximize profit and minimize drawdown for the portfolio of the 28 pairs and XAUUSD? Maybe even a portfolio of all the tradeable instruments in an mt4/mt5 platform with the same features with risk tolerance adjusted for each respective asset based on potential return on investment and or float volume?

12. Do you know of any resources that I could use to learn to code or code these ideas easily without knowing how to code?

13. This website has a suite of free volume based indicators. https://clusterdelta.com/platform/download
Happy downloading! Maybe you will find an indicator that you would like to expand on. I look forward to your reply.

Thank you
 

Enivid

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RauHer

Trader
Jan 21, 2023
11
0
12
39
This is all possible and can be done. You would probably need to actually learn coding to implement it all. It would also take 100+ hours to code even for an experienced coder.
Do any of these additions look like they are worth coding into the version of the indicator on this site or as an edited version or composite indicator/strategy/expert advisor of a different type on this site? If any of them do and you decide to code them, I would be glad that you did and be glad to have contributed to your site.
 

Enivid

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Some of the suggestions about the indicator itself are probably worth adding to the Float indicator, like arrows/alerts, but I won't have time to do that this year. As for the EA, I'm not interesting in creating it at all.
 
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RauHer

Trader
Jan 21, 2023
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Some of the suggestions about the indicator itself are probably worth adding to the Float indicator, like arrows/alerts, but I won't have time to do that this year. As for the EA, I'm not interesting in creating it at all.
Ok, then can you delete my posts to save room on this forum? Sorry about the inconvenience and thanks for your time and help.