Heres something for starting which I found somewhere on net. This is the description according to the website.
Every day trader asks "where are today the price will go?" In this question is the work of a trader. But the creators of the indicator FuturoFX decided to simplify the answer to the above mentioned question and created a tool that draws on the schedule the alleged price movement into several (setup in the indicator) candles advance.
Indicator FuturoFX or analyzes historical data and price movements finds the similar combination with the current market situation. After analyzing all the possible options, the indicator displays on the chart its forecast future behavior of prices in two versions: the arithmetic mean of all the available coincidences in history and most likely further price movement.
The principle of operation of the indicator FuturoFX
Indicator FuturoFX scans last N candles on the chart (Look Back option in the settings indicator), stores them. Then compares this set of N candles with a history of sets finds the the same number of candles and selects only those in which the percentage of "similarity" of 75% or higher (also specified in the settings - parameter Cor Threshold). After this FuturoFX analyzes how price was moving after such sets in the history of candles and displays on the chart of the average price movement of all the options in the form of a red-yellow tunnel. And the most likely price movement with the largest percentage draws yellow bars on the chart
The most accurate prediction of the indicator FuturoFX gives when red-yellow tunnel the averaged options coincides with yellow bars best of them:
FuturoFX can be applied to any asset (currency pairs, indices, metals) and on any timeframe. Since the indicator FuturoFX gives a forecast based on historical data, before installing the indicator on the chart of the asset download for him archive quotations. Just download quotations for M1. To do this, go to Tools/History Center or press F2 in MT4 terminal. Then select the required currency pair quotations "1 Minute" and click on "Download".
FuturoFX indicator can be a good filter for your trading system, or be supplemented by what some additional filters.
