Quartiles Indicator
Info
The Quartiles Indicator is a Indicator for MetaTrader 5 that the quartiles indicator shows the first, second, and third quartiles of a sample, which is a set of quantiles for p=0. 25, 0.
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 Quartiles Indicator
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
The Quartiles Indicator shows the first, second, and third quartiles of a sample, which is a set of quantiles for p=0.
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: Previous Day High, Low, and Close Indicator - another powerful indicator for MetaTrader 5 traders.
The Quartiles Indicator shows the first, second, and third quartiles of a sample, which is a set of quantiles for p=0.25, 0.5, 0.75. Their estimates, or the quartiles of the empirical distribution, are the values that divide a data sample into four groups containing the same number of observations. When referring to quartiles, we typically mean the upper Q3 and lower Q1 quartiles, while the second quartile is the median Q2. The lower Q1 quartile is the value below which a quarter of the data is located in an ordered set, and the upper Q3 quartile is the value above which a quarter of the data is located in an ordered set.Also recommended: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
Indicator Overview
The Quartiles Indicator was first implemented in MQL4 and published in 2026.
You may also like: Session High-Low Indicator for MetaTrader - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_plots 3
#property indicator_type1 draw_line
#property indicator_color1 teal
#property indicator_style1 style_solid
#property indicator_width1 1.......
⚠ 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.