The VROC indicator for MetaTrader 5 is a popular and useful tool for forex traders. VROC stands for Volume Rate of Change, and it is used to gauge the rate at which volume is changing in the market. This indicator can be particularly helpful in identifying potential trend reversals or confirming the strength of a current trend. The VROC indicator works by comparing the current volume to a certain number of periods in the past, typically 14. A positive VROC value indicates increasing volume, while a negative value suggests decreasing volume. Traders can use this information to make more informed trading decisions. This free indicator can easily be added to the MT5 platform and customized to suit individual trading preferences. By incorporating the VROC indicator into their forex trading strategy, traders can gain valuable insights into market dynamics and potentially improve their overall trading performance.
MT5
VROC indicator
The VROC Indicator MT5 is a useful tool for forex traders looking to gauge volume momentum in the market. This popular indicator is free to use on the MT5 platform. By measuring the rate of change of volume, traders can identify potential trend reversals and breakouts. Simply add the indicator to your chart to start analyzing volume movements in real-time.
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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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