Trend Indicator with Fibo and DiNapoli Levels — Float
Got another MT4-only indicator converted to a full compatibility with MT5 today (now there are only 5 indicators left to be converted, counting those that I am not going to convert at all). It’s the Float indicator, which can be used to detect trends, their strength and to show the trend-based Fibo and DiNapoli Levels. It’s a huge indicator from the MQL coder’s point of view. It deals with a lot of chart objects and that should have been updated to comply with the new object-dealing standards of MT5. Fortunately, the conversion also resulted in some principal improvements of the indicator. So, if you analyze your charts using MetaTrader 5 platform I recommend using Float for MT5 as a great and reliable tool. Here are some new features of the converted version:
* Standard MetaTrader description for indicator.
* Removed tons of unnecessary code and variables.
* Improved structure of the code. Now it’s easier to upgrade the indicator.
* Faster execution due to moving huge pieces of code out from under the for-cycles.
You can get the code of the MT5 version or read more info about this trend indicator.