How do I install this Indicator on MetaTrader 4?

Download the file, open MetaTrader 4 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Indicator?

Drag the Indicator from the Navigator onto your chart and adjust the input parameters as needed.

Is this compatible with MetaTrader 4?

Yes, this Indicator is built specifically for MetaTrader 4.

Is this Indicator safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Indicator on multiple charts?

Yes, you can apply multiple indicators on the same chart.

Can I customize the settings of this Indicator?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free quantile price analysis Indicator for MetaTrader 4

MetaTrader 4 indicator

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quantile price analysis

Info

The quantile price analysis is a Indicator for MetaTrader 4 that calculation is:----------------------calculation is current close price minus the close price of the last n(default 30) period's defined x(default 60) upper quantile &current close price minus the close price of the last n(default 30) period's defined x(default 40) lower quantile. if both of these value(which are displayed in histograms) are above 0 then it is uptrend, vice versa for down trend, if one of them is > 0 and one of them is < 0, then it is ranging.

Usage

This tool is typically used for enhancing chart analysis and decision making.

Platform

This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.

How to Install and Use quantile price analysis

1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.

2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.

3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.

4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.

Frequently Asked Questions

Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."

Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).

Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.

What this tool does

Typical Use Case

This Indicator excels in automated trading and technical analysis on MetaTrader 4.

Compatible Platform & Setup

This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.

Description & Settings

Related: Institutional Ehlers Fisher Transform: Advanced Price Normalization for MT4 - another powerful indicator for MetaTrader 4 traders.

Also recommended: i market price 2.1 - real-time price information indicator - similar indicator with strong performance on MetaTrader 4.

calculation is:
----------------------
calculation is current close price minus the close price of the last n(default 30) period's defined x(default 60) upper quantile &
current close price minus the close price of the last n(default 30) period's defined x(default 40) lower quantile.
if both of these value(which are displayed in histograms) are above 0 then it is uptrend, vice versa for down trend, if one of them is > 0 and one of them is < 0, then it is ranging.
-----------------------
there is also a high low mode in the inputs, calculation is current high price minus the close price of the last n(default 30) period's defined x(default 60) upper quantile & current low price minus the close price of the last n(default 30) period's defined x(default 40) lower quantile.
if both of these value(which are displayed in histograms) are above 0 then it is uptrend, vice versa for down trend, if one of them is > 0 and one of them is < 0, then it is ranging.
this method filters more ranging bars but also produces more lag.
-----------------------green block at the 0 level means uptrend, orange block at the 0 level means downtrend, gray block at the 0 level means ranging.

You may also like: exchange price indicator - excellent alternative for indicator users on MetaTrader 4.

Source Code

#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version   "1.00"
#property strict
#property indicator_separate_window
#property indicator_buffers 8
extern int main = 30; //look back period
extern int upq = 40; //down quant %
extern int dnq = 60; //up quant %
enum priceoption {

.......

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⚠ Limitations & Risk Warning

This tool is provided for educational and testing purposes only.
Past performance does not guarantee future results.
Trading involves substantial risk of loss. Use on a demo account first.
Results may vary depending on market conditions, broker, and settings.
We recommend thorough backtesting and forward testing before using with real funds.