The Stochastic ROC Divergence indicator for MT4 is a useful and popular free Forex indicator. It is designed to help traders spot potential reversals in price action by using the Relative Strength Index (RSI) and Stochastic oscillator. The indicator plots the difference between the two oscillators on the chart, allowing traders to easily identify potential price reversals. The indicator works by comparing the current price of the security to the price of the security at a previous time period. If the current price is lower than the previous time period, the indicator will plot a downward divergence, indicating a potential reversal. Conversely, if the current price is higher than the previous time period, the indicator will plot an upward divergence, indicating a potential reversal. By combining the indicator with other tools, traders can create powerful strategies to take advantage of potential market reversals.
Stochastic ROC Divergence
The Stochastic ROC Divergence Indicator is a popular and useful tool for Forex traders. This indicator is designed to help traders identify divergences between the Stochastic Oscillator and the Rate of Change (ROC) indicator. The Stochastic ROC Divergence Indicator is a powerful and versatile tool that can help Forex traders make profitable trades.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.