Does anyone know if there are indicator(s) that do a good or better job then float at indicating when a trend ends and when it starts? To me the float indicator work really well with other trend indicators. If you haven't try the float indicator, you should give it a test run.

Yes it is good indicator for me to understand where the price is.

Sometimes I am using Stoch (14, 5, 5), sometimes EMA (55), EMA (21) or EMA (8), or just all 3 EMAs together, the classical Parabolic SAR with default setting ... Just everything. And it is very good and I may confirm some my decision (about the market direction or reversal or something) by one indicator, and I may confirm this one indicator by an other indicator, and an other one by an other one and so on. There is good correlation between them.

But sometimes very strange cases happened:
Some people call this case as market correction. It happened sometimes: no correlation between indicators and everything is going on with the contradiction with each other.

And Float indicator helps me sometimes.

I am using MACD, ZigZag, SilverTrend, TrainManager, NRTR WATR indicators with it. I only lost one trade since I use this new strategy and it was today. Float and ZigZag miscalculated when the trend would end and I shorted heavily on GBPUSD. Still I netted around 30 pips today even with the lost of 37 pips. I would have made almost 70 pips today if it weren’t for the GBPUSD.

Recalculation of the float and ZigZag is a minor problem but today it became a major one because it keep recalculating in an upward trend. Every time I though that GBPUSD was over bought it keep going up.

I would like to get some directions towards the "correct interpretation" of the FLOAT_indicator. I use it on the hourly chart for direction only, but any other suggestions will be welcomed. Thanks for assisting. Best wishes for successful trades.

Where can I get the float indicator alert for MT4?

Hi jdun,

What setting are you using for the float indicator? As i know this float indicator just paint the past. It will change if there is new high and new low if i am not mistaken.

You are absolutely correct.