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Indicators

Temporary Fair Value - indicator for MetaTrader 4

SemperAugustus
Views:
27005
Rating:
(10)
Published:
2014.01.30 08:51
Updated:
2014.04.21 14:56
Download as ZIP, How to download code from MetaEditor
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Where is the herd of Bulls and Bears within the candle? A candle does not show where most of the activity has been during the candle's timeframe. TFV does.

TFV shows with 1 dot where the trenches are. TFV shows the core of each candle: the Fair Price.

Parameters are:

  • Exponential – if set to 1, every tick weighs equal, if set to 2 (or higher), the most recent tick weighs double (or more), to emphasize the most recent price positions.
  • WingDing – the dot.

Useability

  1. It can be used by robots that act OnTick, to avoid unwanted actions on a single and non-signifcant spike.
  2. Indicator for Temporary Fair Value.
  3. Straight or near straight TFV-lines reveal support and resistance lines.
  4. More reliable indicator for a swing high or swing low.



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