Percentage Indicator for MT4 – ForexMT4Indicators.com

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Percentage Indicator for MT4

Introduction to the Percentage Indicator

Percentage Change is information that is commonly used by stockbrokers and investors. It refers to the change in price of the closing price of the previous period in percentage form.

Some trading platforms, especially those that are used for stocks, have the percentage changes. However, the MT4 platform does not have this.

The Percentage Indicator is an indicator that shows the percentage change of a marketable instrument on the MT4 platform.

What is the Percentage Indicator?

The Percentage Indicator, which is also called the Percentage Change Indicator, is a technical indicator that shows the price change between the current price and the last closing price in percentage form.

The Percentage Indicator shows a percentage change in price for the monthly, weekly, and daily price. Along with the price change of price, it also shows the current price, the last closing price, as well as the difference between the current price and the last near price.

This indicator shows the text blue whenever there is a positive percentage change or red whenever there is a negative percentage change.

Percentage Indicator for MT4

What is the Percentage Indicator

How Does the Percentage Indicator Work?

The Percentage Indicator uses the basic Percentage Change formula, which is subtracting the last close price from the current price, then dividing the difference by the last close price, then multiplying it by 100 to arrive at its percentage form.

Percentage Change = [(Current Price – Last Close Price) / Last Close Price] x 100

Both the current price and the last near-term price are taken from the algorithm of the broker’s price flow indicator.

It also uses the closing price of a candle for the corresponding time frame. The daily percentage change is based on the previous price of the previous day. The weekly percentage change is based on last week’s close price. The monthly percentage change is based on the previous month’s price close.

How to use the Percentage Indicator for MT4

The Percentage Indicator has a number of options within its indicator settings. However, these options are only aesthetic modifications on its screen because the Percentage change formula is fixed.

How the Percentage Indicator Works

The “angle” field allows users to change the angle at which information is displayed.

The “xdis” and “ydis” fields allow users to adjust the distance of the screen from the angle and on the x and y axis.

“Font” and “Font Size” allow users to change the type and size of the font used for the text.

“Font Plus” refers to the color of the text for positive percentage changes, while “Font Minus” refers to the color of the text for negative percentage changes.

Percentage Change and Momentum

Some traders use a percentage change to objectively identify the direction of momentum. High absolute value percentage changes indicate strong momentum. High positive percentage changes indicate a strong bullish momentum, while high negative percentage changes indicate a strong bearish momentum. With this concept, traders would trade in the direction of the strong momentum.

Percentage Change and Overbought or Oversold Markets

The antithesis to momentum would mean upheavals. Some retailers would use the exchange rate information to identify overbought or oversold markets. An extremely high positive percentage change indicates an overbought market. On the other hand, an extremely high negative percentage change also indicates a overselling market. With this assumption, traders would often trade significant reversals against an extremely overbought or oversold market.

Conclusion

The Percentage Change Data is useful information used by traders. However, this information is often ignored by forex traders. Although it is unusual for forex traders to use this, it is useful information that traders can use.

MT4 Indicators – Download Instructions

Percentage Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated historical data.

Percentage Indicator for MT4 provides an opportunity to detect various peculiarities and patterns in price dynamics that are invisible to the naked eye.

Based on this information, traders can assume an additional price move and adjust their strategy accordingly. Click here for MT4 Strategies

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How to install Percentage Indicator for MT4.mq4?

  • Download Percentage Indicator for MT4.mq4
  • Copy MT4.mq4 Percentage Indicator to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader 4 Client
  • Select Chart and Timeframe where you want to test your MT4 indicators
  • Search for “Custom Indicators” in your Browser mostly left in your Metatrader 4 Client
  • Right click on Percentage Indicator for MT4.mq4
  • Stick to a diagram
  • Modify settings or press eight
  • Indicator Percentage Indicator for MT4.mq4 is available on your Chart

How to remove Percentage Indicator for MT4.mq4 from your Metatrader Chart?

  • Select the Chart where the Indicator works in your Metatrader 4 Client
  • Right-click the Chart
  • “List of indicators”
  • Select the Indicator and delete

MT4 Percentage Indicator (Free Download)

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