price rate of change (roc)
Info
The price rate of change (roc) is a Indicator for MetaTrader 5 that prices fluctuate in a wave-like manner, known as ondulatory movement, due to changing investor expectations and the ongoing battle between bulls and bears for price control. the price rate of change (roc) indicator mirrors this ondulatory movement, acting as an oscillator that measures price differences over a specified period.
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 price rate of change (roc)
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
prices fluctuate in a wave-like manner, known as ondulatory movement, due to changing investor expectations and the ongoing battle between bulls and bears for price control.
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: Quantora Candle Strength Analyzer MT5: Price Action and Wick Analysis - another powerful indicator for MetaTrader 5 traders.
prices fluctuate in a wave-like manner, known as ondulatory movement, due to changing investor expectations and the ongoing battle between bulls and bears for price control.Also recommended: Session-Based Liquidity Breakout Strategy - similar indicator with strong performance on MetaTrader 5.
the price rate of change (roc) indicator mirrors this ondulatory movement, acting as an oscillator that measures price differences over a specified period. when prices rise, roc increases, and when prices fall, roc decreases, with the magnitude of the price change directly influencing the roc.
the 12- and 25-day roc are commonly used, with the 12-day roc being particularly effective as a short-term and medium-term overbought/oversold indicator.
a higher roc suggests a potential price increase, but it's crucial not to rush into opening a position until the market reverses its direction. overbought or oversold markets can persist for extended periods. typically, extreme overbought/oversold conditions indicate a continuation of the prevailing trend.
price rate of change indicator calculation:
the formula for calculating the speed of price change is:
roc = ((close (i) - close (i - n)) / close (i - n)) * 100
where:
- close (i) is the closing price of the current bar;
- close (i - n) is the closing price n bars ago;
- roc is the value of the price rate of change indicator.
You may also like: Swap Meter - Live Swap Rates Monitor with Alerts - 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 indicator_separate_window
#property indicator_buffers 1
#property indicator_plots 1
#property indicator_type1 draw_line
#property indicator_color1 lightseagreen
input int inprocperiod=12; // period
double extrocbuffer[];.......
⚠ 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.