ro c2 vg
Info
The ro c2 vg is a Indicator for MetaTrader 4 that plotting the roc indicators of two custom types (including momentum) and periods in one window. roc2 vgthe following is the table of rate-of-change implemented in ta-lib:mom = (price - prevprice) [momentum]roc = ((price/prevprice)-1)*100 [rate of change]rocp = (price-prevprice)/prevprice [rate of change percentage]rocr = (price/prevprice) [rate of change ratio]rocr100 = (price/prevprice)*100 [rate of change ratio 100 scale]here are the equivalent function in other software:ta-lib | tradestation | metastockmom | momentum | roc (point)roc | roc | roc (percent)rocp | percentchange | -rocr | - | -rocr100 | - | mothe mom function is the only one who is not normalized, and thusshould be avoided for comparing different time serie of prices.
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 ro c2 vg
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
plotting the roc indicators of two custom types (including momentum) and periods in one window.
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: External Range Liquidity (ERL) Indicator: Advanced Market Structure and Liquidity Analysis - similar indicator with strong performance on MetaTrader 4.
plotting the roc indicators of two custom types (including momentum) and periods in one window.roc2 vg
the following is the table of rate-of-change implemented in ta-lib:
mom = (price - prevprice) [momentum]
roc = ((price/prevprice)-1)*100 [rate of change]
rocp = (price-prevprice)/prevprice [rate of change percentage]
rocr = (price/prevprice) [rate of change ratio]
rocr100 = (price/prevprice)*100 [rate of change ratio 100 scale]
here are the equivalent function in other software:
ta-lib | tradestation | metastock
mom | momentum | roc (point)
roc | roc | roc (percent)
rocp | percentchange | -
rocr | - | -
rocr100 | - | mo
the mom function is the only one who is not normalized, and thus
should be avoided for comparing different time serie of prices.
roc and rocp are centered at zero and can have positive and negative
value. here are some equivalence:
roc = rocp/100
= ((price-prevprice)/prevprice)/100
= ((price/prevprice)-1)*100
rocr and rocr100 are ratio respectively centered at 1 and 100 and are always positive values.
You may also like: B Bands Psar Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 red
#property indicator_color2 blue
#property indicator_level1 0.005
#property indicator_level2 0.002
#property indicator_level3 0.00
#property indicator_level4 -0.002.......
⚠ 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.