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One of my favorite indicator is the Support/Resistance from Barry. He took the fractals as his S/R values and displayed them in the following bars too, until a new fractal appears.
Instead of jumping from one TF to another, I decided to write the MTF version of it. It is working wonderfull. I now actually work with it only indicator on screen, and use candlesticks as my decision making. It works great today (it was a good trade day). I don't know how it will do in a choppy market.
I use 2 indicators to cover 1M,5M up to 1D S/R because MT4 cannot allows more then 8 internal buffers ( I need 2 for every TF)
Thanks for changing Float indicator.
float take the hight and the low for the last so many bars back and use volum some way I think to be use in the forward calculateion for the next vertical line.
The price gets to hight and low most of the time.
I am still working trying to use this indicator in my trading.
If the price hits the top or bottom horizontal line befor the number of bars and volume them the vertical line moves to the next bar, that is the hard part of this indicator.
Barry