Velocity Indicator for MT4/MT5
Info
The Velocity Indicator for MT4/MT5 is a Indicator for MetaTrader 4 that velocity is calculated as the difference between the high and low price of a bar, divided by time. The time period can be set to minutes, hours, or days, with seconds as the default.
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 Velocity Indicator for MT4/MT5
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
Velocity is calculated as the difference between the high and low price of a bar, divided by time.
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: External Range Liquidity (ERL) Indicator: Advanced Market Structure and Liquidity Analysis - another powerful indicator for MetaTrader 4 traders.
Velocity is calculated as the difference between the high and low price of a bar, divided by time. The time period can be set to minutes, hours, or days, with seconds as the default.Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 4.
In physics, velocity is defined as distance divided by time. The Velocity indicator applies this concept to price action, representing price movement over a specific time interval.Unlike indicators such as ATR or other volatility indicators, Velocity explicitly incorporates the time element into its calculation, providing a distinct measure of price momentum.
Velocity Indicator
The indicator can serve as a useful gauge of price action intensity when considered over time.
You may also like: Fast Stochastic 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 green
#property indicator_color2 gold
extern int
time_input = 0; //0= seconds,1=minute,2=hours,3=day
double vbuff[];
double vtbuff[];.......
⚠ 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.