en Flat Market Index 2.2
Metatrader Indicator (MT4/MT5)
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ℹ Overview
This indicator calculates how much has a symbol moved in relative terms to find trending or flat markets. It displays what percentage of the latest price range is directional. It can be used to avoid trading in flat markets, or to find flat markets to execute range-bound trading strategies.
- A value of zero means the market is absolutely flat
- A value of 100 means the market is totally trending
- The blue line means the price range is healthy
- The red line means the price range is narrow
- The moving average is the flat market index (FMI)
It has straightforward trading implications.
- Use trend-trading strategies when the line is blue and above the FMI
- Use range-trading strategies when the line is red and below the FMI
- Perform instrument selection based on the FMI
Boost your trading returns with the best flat market detector available, just like hundreds of users have already done.
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Input parameters
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Max History Bars
- Amount of bars to look into the past when loading.
- Lookback
- Amount of bars to study the flat market index.
- Period
- Averaging period to calculate the index.
- ATR Period
- ATR period used in the indicator to calculate a movement unit.
- ATR Multiplier
- Multiplier of ATR to calculate a movement unit of the index.
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FAQ
- Does the indicator repaint?
- No, it does not repaint.
- Does this indicator display directionality?
- No, it does not. Only absolute market movement.
- Does the indicator implement alerts?
- Yes, it does.
Screenshots
