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Volatility Quality NRP

The Volatility Quality Nrp indicator for MT4 detects the prevailing market volatility of an asset. It is a great tool for traders who are looking to make the most out of their trading experience. Download free!

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Description

The Volatility Quality NRP Indicator is a volatility-measuring tool developed by Thomas Stridsman to keep a tab on the volatility of financial trading instruments available on the MetaTrader 4 platform. The indicator can be used as a supporting tool to make objective analyses and to identify optimal zones for buy/sell or exit.

Features of the Volatility Quality NRP Indicator for MT4

The indicator stands on a separate window below the chart; it has a thick dynamic line that changes between lime green and red, reflecting changes in market volatility. It changes to lime green when the market’s volatility is bullish and turns red when the volatility is bearish.

Furthermore, the indicator pops up signal alerts on the chart to notify traders of changes in market volatility. It also sends alerts via email and push messages, which enables traders to stay up to date with the indicator’s signals.

Benefits of Using the Indicator

  • Detects Changes in Market Volatility: The indicator identifies different volatility conditions of a financial trading instrument, which helps traders keep a tab on the market volatility without hassle.
  • Confirmation of Trend Strength: The indicator provides valuable information on the trend strength of an asset, enabling traders to make informed trading decisions on when to hold or close a position based on prevailing market volatility.

Indicator Settings Description

The indicator comes with the following customizable settings:

PriceSmoothing: Determines the level of smoothing applied to the price.

PriceSmoothingMethod: Determines the method used for smoothing the price.

MA1Period: Determines the period for the first moving average indicator.

MA1Method: Determines the calculation method for the first moving average indicator.

MA2Period: Determines the period for the second moving average indicator.

MA2Method: Determines the calculation method for the second moving average indicator.

FilteringPips: Defines the number of pips used for filtering the signal.

AlertsOn: Enables/Disables the alert function.

AlertsOnCurrent: Enables/Disables alerts on the current candlestick.

AlertsMessage: Enables/Disables pop-up alert on the screen.

AlertsSound: Enables/Disables the alert sound feature.

AlertsEmail: Enables/Disables alerts via email.

AlertsPushNotification: Enables/Disables alerts via push notification.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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.

 

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