RO C2 VG
This professional-grade solution for MetaTrader 4 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup 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.
Description & Settings
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.
