The Rate of Change Indicator (ROC) is a popular and useful forex indicator for MT4 traders. It is a free indicator that measures the rate at which the price of a currency pair changes over a certain period of time. The ROC indicator is easy to use and provides traders with valuable information about a currency pair’s momentum. The ROC indicator is calculated by taking the difference between the current price and the price of the same currency pair from a certain period of time ago. The indicator is then divided by the price of the currency pair from the same period of time ago and multiplied by 100. The result is the ROC indicator. When the ROC indicator is above 0, it indicates that the price of the currency pair is increasing. Conversely, when the ROC indicator is below 0, it indicates that the price of the currency pair is decreasing. The indicator can also be used to detect overbought or oversold conditions. When the indicator is above 70, it indicates that the currency pair is overbought, while when the indicator is below -70, it indicates that the currency pair is oversold. Overall, the Rate of Change Indicator is a popular and useful forex indicator for MT4 traders. It is free and easy to use, providing traders with valuable information about a currency pair’s momentum.
MT4
Rate Of Change
The Rate of Change Indicator (ROC) is a popular and useful Forex indicator that is available for free on the MT4 trading platform. It is used to measure the rate of change of a currency pair over a given period of time. The ROC indicator is calculated by dividing the current price by the price of the same currency pair at a certain point in the past. The ROC indicator is a useful tool for traders looking to identify short-term trends and make decisions based on price movements.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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