Rate of Change (ROC) Indicator
Info
The Rate of Change (ROC) Indicator is a Indicator for MetaTrader 4 that the rate of change (roc) indicator displays the percentage change in price over a specified period for selected currency pairs. It plots this change as bars in a separate indicator subwindow.
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 Rate of Change (ROC) Indicator
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
The Rate of Change (ROC) indicator displays the percentage change in price over a specified period for selected currency pairs.
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: Strategy Tester Report vs. Live Account: Trade-by-Trade Analysis - another powerful indicator for MetaTrader 4 traders.
The Rate of Change (ROC) indicator displays the percentage change in price over a specified period for selected currency pairs. It plots this change as bars in a separate indicator subwindow.Also recommended: TS Combo5 - Integrated AI Models - similar indicator with strong performance on MetaTrader 4.
Clicking on a bar or a currency pair name will open a new chart displaying that pair with the input period applied.
Recommendations:
Enter the list of currency pairs using a separator (e.g., comma) without any spaces.
The indicator automatically selects the specified pairs in the 'Market Watch' window.
Bars are automatically scaled when the chart window size changes or when a bar extends beyond the subwindow boundaries.
If a font scaling issue arises during window resizing, adjust the height of the indicator subwindow up or down.
You may also like: Pin-Point Trend Following Strategy - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "2.1"
#property strict
#property indicator_separate_window
input string pairs="usdjpy,audusd,eurjpy,eurchf,eurgbp,eurusd,gbpusd,usdchf,usdcad";
input enum_timeframes timeframe=period_d1;//period for calculating
input enum_timeframes per = period_m15; //period for new opened charts
input color upcolor = clrlimegreen; //color when moved up
input color downcolor = clrtomato; //color when moved down.......
⚠ 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.