PREDICTOR INDICATOR FOREX LIBRA CODE
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- Pauline Shona Davis
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1 PREDICTOR INDICATOR FOREX LIBRA CODE This short manual aims to explain how to use and apply the Predictor Indicator which is part of the Forex Libra Code software. The Predictor Indicator is available to the Forex Libra Code members, inside the Gifts section. (Download link - ) Assuming that you have downloaded and installed the indicator, let s move forward to the next step which is how to use it. MAIN IDEA: Predictor Indicator aims to forecast where would the current day s candle, tomorrow s and the day after tomorrow s would end, namely creating a higher high or lower low (green/red candle). The algorithm would take into consideration the historical data and would print out the probability for either (green/red) as percentages.
2 HOW TO ATTACH THE INDICATOR TO A CHART? You may attach the indicator to any chart and any time frame. The time frame doesn t make any difference as the software would read and show the statistics based on the daily chart. Hence the data that you would see inside the indicator s box, is relevant for the daily chart. A. To attach the indicator open the Navigation Panel in MT4 (CTRL + N). B. Next expand the Indicators list and find the FLC_Predictor. C. Double click or Drag&Drop to the chart to load the indicator. D. Confirm with Ok. This is how the indicator looks like.
3 HOW DOES IT WORK? The indicator will read all available data on the D1 chart and based on the statistics and calculations, it will print out for you the probability of the 3 bars (the Current Daily Bar, the next day (Day 2) bar and the day after tomorrow s bar (Day 3), to end as Bullish or Bearish one. In other words the indicator aims to forecast if today s bar would be green or red, if tomorrow s bar would be green or red and if the bar after tomorrow would be green or red. The probability is represented in Percentages and a Directional Arrow. The stronger the percentage, the higher the chances are. Example: GBPUSD D1 Chart. The picture that you are seeing is at the opening of the current bar ( ). Here is how to read the indicator: Today there is 60.6% probability that the current bar would close as a green one (bullish candle). There are 39.4% that the current bar would close as a red one (bearish). 2 Day Second day ( ) readings are as follows 51.5% probability that tomorrow s candle would be green and 48.5% that tomorrow s candle would be red. 3 Day Third day ( ) shows 36.4% chances that the bar would be green and 27.3% chance that the bar would be red.
4 Now let s see what happens when the daily candle closes.
5 The indicator would update the readings. Now you can see that Today (current bar) has a bigger chance of closing as a red candle rather then green % vs 37.5%. And so on and so forth. After the current bar closes, you will get updated readings. It doesn t matter whether you are running the indicator on the M5 chart or the W1 chat. The data used to calculate the numbers is always based on the D1 chart.
6 SETTINGS To access the indicator s settings menu: 1. Hold the CTRL + I on your keyboard or right click on the chart and select Indicators. 2. From the indicators list, click once on the FLC_Predictor and then hit the Edit Button on the right. 3. Go to the Inputs tabs. Now you should be seeing the following. BOX_Y_Offset The number that you see here will offset the indicator s window vertically on the chart. By default it is set to 30 (it would appear at the top right corner of your chart). Play with the number to adjust its vertical position. TextColor Here you can change the color of the numbers (percentages) that appear inside the box. BOX_Side You can change the horizontal position of the indicator from here. Double click where it says RIGHT and you will be able to select from two options Right and Left. Yours, Vladimir
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