Stochastic ROC Metatrader 5 Forex Indicator
The Stochastic_ROC is short for the Stochastic Rate-of-Change MT5 indicator and is built on the Stochastic, just as the name suggest.
Clearly, the indicator is designed to allow us gauge overbought and oversold market conditions, but traders must allow themselves in on the right settings.
The Rate-of-Change (ROC) is not needed for calculations, since the indicator calculates itself:
If Type = Absolute Stochastic, then ROC = ((Stochastic(Now) – Stochastic(Prev)),
If Type = Relative Stochastic, then ROC = ((Stochastic(Now) – Stochastic(Prev)) / Stochastic(Prev))*100
ROC = ((CLOSE (i) – CLOSE (i – n)) / CLOSE (i – n)) * 100
CLOSE (i) – the price of closing the current bar;
CLOSE (i – n) – the close price n bars ago;
There are eight input parameters available on the Stochastic_ROC Metatrader 5 indicator:
Stochastic K period – defines the stochastic %K line calculation period;
Stochastic D period – defines the stochastic %D line calculation period;
Stochastic Slowing – defines the stochastic Slowing line calculation period;
Stochastic MA Method – defines the stochastic calculation method;
Stochastic Price field – defines the stochastic calculation prices;
Stochastic line – defines the stochastic line deployed in calculating the indicator:
Main – defines the main line;
Signal – defines the signal line.
ROC period – defines the ROC calculation period;
Calculation type – defines the type of calculations:
Absolute – defines the absolute values;
Relative – defines relative values.
Price is overbought when it is trading above the zero center line and oversold when it is trading below the zero center line.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Stochastic K period, Stochastic D period, Stochastic Slowing, Stochastic MA Method, Stochastic Price field, Stochastic line, ROC period, Calculation type), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Stochastic_ROC.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)