FutureForecastMt4

FutureForecast is one of the few indicators looking into the future, or rather calculating the current candle's High and Low price values.

Advantages of the indicator

• no repainting
• works on any timeframes
• works with any trading instruments
• perfectly suitable for scalping and trading binary options

Parameters

• alert - enable/disable alerts about signals. Enabled by default.

Parameters (Colors)

• FutureHigh - estimated High price line color.
• FutureLow - estimated Low price line color.

Recommendations

The indicator forms two lines. By default, they are of the same color but it can be changed in the Colors section of the indicator settings.

The upper indicator line is a forecast High of the current candle, while the lower line is a forecast Low.

Trading should be performed with anticipation of a rollback from these lines. If the candle Close price breaks the indicator levels, the next candle will most likely make a correction in the opposite direction.