FloatPivot - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
The essential difference from the known possible channel indicator is that it plots an estimated channel rather than an actual channel based on history. It's good for showing breakthroughs and rebounds. To improve the display, it performs a small smoothing by averaging the closing prices used in the calculation. The indicator period depends on the time frame used, but it is recommended not to lower it.
Currently, possible operating modes are being examined.
Attachment download
📎FP.mq4 (2.49 KB)
Source: MQL5 #7077
FloatPivot - MetaTrader 4 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
FloatPivot - MetaTrader 4 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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