Forex Flow Equalizer
- Indicators
- Marcel Igboanugo
- Version: 2.0
- Updated: 15 December 2022
- Activations: 10
Forex Flow Equalizer is an indicator that helps to reduce 'noise' in forex price movements. Visit https://www.mql5.com/en/blogs/post/751167 for more detailed explanation.
It is programmed to enhance traders' focus, and capacity to monitor or manage multiple instruments of interest on preferred timeframe without their minds being over loaded with data or information, thereby, saving them the mental strength for more important trading decision making.
Range Mode: is for traders who like to trade price swings or ranging markets, buying when the price is lower and selling when the price is higher.
Trend Mode: is for traders who like to trade trending markets, buying when the price is making higher highs and selling when the price is making lower lows.
Range and Trend Modes (current version is 2.0)
FFE has two modes, that is both the Trend and the Range modes merged into one indicator but can each be used separately by activating whichever mode the user prefers. To choose a mode, simply set the very first parameter, Indicator mode, in the indicator settings to value 0 or value 1. Value 0 is the Trend Mode while value 1 is the Range Mode. Range mode is the default.
Forex Flow Equalizer also has added features such as:
visually letting the trader see when the direction has changed;
how much levels (i.e. number of periods) to stack for longer view;
ability to set preferred stop loss size (in pips) in order to limit or increase number of signals;
ability to select the number of currency pairs of interest;
ability to set time frame; and
ability to look up history for research, use input Enter datetime e.g. 2022.10.28 08:15
Other input parameters worthy of note are:
the currency pairs are originally arranged in alphabetical order from AUDCAD through USDJPY, but can be arranged in any other;
any number of currency pairs can be selected but the position of symbol1 must be filled before the position of symbol2 can be filled. Likewise, the position of symbol2 must be filled before the position of symbol3 can be filled and so on and so forth;
Any gap in selected symbol list will result in Symbol list error notification on the dashboard;
Any duplication of instrument results in Symbol list error notification on the dashboard;
Any instrument from Market Watch can be added but FX instruments are more recommended. Also the instrument name must match its spelling and case as it is displayed in Market Watch. Wrongly spelled or wrong case will not result in Symbol list error notification on the dashboard, but that instrument's column will not display any content.
