The Smoothed Rate of Change (ROC) indicator for MT5 is a popular and useful tool for forex traders. This free indicator helps traders identify the momentum of a currency pair by comparing the current price to its price a certain number of periods ago. The ROC is then smoothed to provide a more reliable signal of market strength. To use the Smoothed ROC indicator, traders can look for crossovers of the indicator with its signal line or use it as a confirmation tool for trend direction. When the ROC is above zero, it indicates bullish momentum, while a ROC below zero suggests bearish momentum. Traders can also look for divergences between the ROC and price to anticipate potential reversals. Overall, the Smoothed ROC indicator is a valuable tool for forex traders looking to gauge the strength of market momentum and make informed trading decisions.
MT5
Smoothed ROC
Smoothed ROC Indicator for MT5 is a popular and useful tool for forex traders. It is a free indicator that calculates the rate of change of price movements and smoothens it to provide a clearer trend indication. Traders can use this indicator to identify potential trade opportunities based on momentum changes in 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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