The Rate of Change Indicator (ROC) is a popular and free MT5 forex indicator that helps traders to identify changes in the price of a currency pair. It is a useful tool for traders to identify when a currency pair is overbought or oversold. The ROC indicator is calculated by taking the current price of a currency pair and subtracting the price from a certain period of time ago. The result is then divided by the price from a certain period of time ago. The ROC indicator can be used to identify when a currency pair is overbought or oversold. When the ROC is positive, it indicates that the price of the currency pair is increasing. When the ROC is negative, it indicates that the price of the currency pair is decreasing. The ROC indicator can also be used to identify when a trend is reversing. If the ROC value is increasing and then starts to decrease, it could indicate that the trend is reversing. By using the ROC indicator, traders can gain a better understanding of the market and make more informed trading decisions.
MT5
Rate Of Change
The Rate of Change Indicator MT5 is a useful and popular free Forex indicator. It is designed to measure the rate of change in price movements of a currency pair. This indicator uses a simple formula to calculate the rate of change for each period, which can be used to identify potential trends in the market. The indicator can be used in combination with other technical indicators to provide a more comprehensive picture of the market.
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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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