Volume Rate of Change (VR O C)
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Volume Rate of Change (VR O C)
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
Volume Rate of Change (VROC) is an indicator of the direction where the volume trend moves.
Its idea lies in the fact that almost all important graphical formations (peaks, bottoms, breaches, etc.) are accompanied by a dramatic increase of trade volume.
The indicator is the difference between current bar volume and the volume n periods ago. If the current bar volume is higher than it was n periods ago, the value of the indicator will be positive. If the current volume is lower, VROC will obtain a negative value. Thus, the indicator gives an idea of the volume change speed.
Determining the calculation period is very important while working with this indicator. Short periods of 10-15 bars show sudden changes of volume. However, for signals that are more realistic it is better to choose periods of 25-30 bars. This gives a smoother and more rounded line and makes the analysis easier. At the same time, using short periods gives a more broken, "noisy" line and complicates the analysis.
Volume Rate of Change indicator
Calculation:
VROC = ((VOLUME (i) - VOLUME (i - n)) / VOLUME (i - n)) * 100
where:
VOLUME (i) - is the current bar volume;
VOLUME (i - n) - the volume n bars ago;
VROC - the Volume Rate of Change indicator value.
