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 Float indicator about this trend indicator.
If you find any bugs in this MT5 indicator or if you want to make a suggestion regarding its functionality or what should be my next MT4->MT5 conversion, please, use the commentary form below.
