Le Man Indicator: Quartile Deviation Analysis
Info
The Le Man Indicator: Quartile Deviation Analysis is a Indicator for MetaTrader 5 that le man indicatorthis indicator calculates the distance from the market entry price to the highs and lows, displaying quartile deviations. The first green line (from bottom to top) indicates the price increase in 75% (quartile_3) of cases from the sample.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Le Man Indicator: Quartile Deviation 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
Le Man IndicatorThis indicator calculates the distance from the market entry price to the highs and lows, displaying quartile deviations.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: supertrend indicator: atr-based trend following for metatrader 5 - another powerful indicator for MetaTrader 5 traders.
Le Man IndicatorAlso recommended: bar stats indicator: efficient mt5 tool for ea developers and traders - similar indicator with strong performance on MetaTrader 5.
This indicator calculates the distance from the market entry price to the highs and lows, displaying quartile deviations.
The first green line (from bottom to top) indicates the price increase in 75% (quartile_3) of cases from the sample. The second green line shows the same for 50% (quartile_2), the third for 25% (quartile_1), and the fourth represents the maximum deviation.
The first red line (from top to bottom) shows the price decrease in 75% (quartile_3) of cases from the sample. The second red line indicates the same for 50% (quartile_2), the third for 25% (quartile_1), and the fourth represents the maximum deviation.
This indicator was first implemented in MQL4 and published on 13.01.2026.
You may also like: candle body ratio indicator: strength meter with heatmap - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#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 indicator_chart_window
#define lines_total 8 // the constant for the number of the indicator lines
#define reset 0 // the constant for getting the command for the indicator recalculation back to the terminal
#property indicator_buffers lines_total
#property indicator_plots lines_total
#property indicator_type1 draw_line.......
⚠ 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.