Wmifor forex indicator MT4 settings:
From generation to generation, traders try to create price forecasting models, many of which are the usual experiments of novice programmers, but some algorithms firmly occupy their niche. One such example is the WmiFor indicator.
Currently, two versions of this “predictor” are used, while they are radically different from each other, although written by one developer. The principle of operation of the basic version is very simple – the trader sets the study period in the settings, after which the WmiFor indicator looks for matches in the sequence of bars on history using the Spearman method and makes a prediction. Let me remind you, Spearman is famous for developing the coefficient of rank correlation.
For the elimination of anomalous oscillations, each sequence found passes an additional check on the height of the sample, in addition, the quality of the prediction depends on the number of similar formations found (by default, in the settings, the expert is configured to search for five models).
The two vertical lines on the graph indicate the beginning and end of the sample (remember this term, it will come in handy in the future). This distance can be either fixed (the interval will not move after the movement of the price) or dynamic (a particular variant depends on the settings of the WmiFor indicator).
The sequence of brown bars displays the corridor of the expected price movement, I draw your attention – this markup rarely appears on the chart, since it is based on a minimum of two similar patterns. Therefore, if the area on the chart is missing, then it is not recommended to change the settings and look for errors, you just need to either wait or take extra risk and start working on one blue markup.
The sequence of blue bars shows the most likely scenario. As a rule, traders consider in this particular layout, but to be displayed correctly, you need to download as much history and refresh the chart (switching timeframe).