Change Indicator
Change Indicator for MT4. Momentum indicator for MT4. Forex volatility indicator.
Description
The Change Indicator for MetaTrader is a momentum-based indicator that shows the volatility changes in the price of any tradable asset. This technical trading tool is built with histogram bars to depict the changes in the momentum of the trend.
The indicator works by tracking the differences in the historic data of the past price and the current closing price. The momentum changes are then represented in a histogram chart.
The Change Indicator would come in handy for both novice and professional traders to keep a tab on the dynamic changes in momentum of the price. It is also suitable for different trading techniques like scalping, day/intraday, and swing trading.
How to Trade With Change Indicator For MT4
The above screenshot shows how the Change Indicator would look on your chart. The GREEN histogram bars represent a bullish momentum while the RED histogram depicts a bearish momentum.
The momentum of the market is measured by the length of the histogram bars. So essentially, the bigger the momentum of the price, the higher the increase of the histogram bars, and vice-versa.
It is important to state that the Change Indicator should not be used in isolation; but rather in synergy with price action and/or other indicators. This is true because the indicator is essentially designed to show the momentum of the price and not for trading signals.
With this indicator, you can know when to exit the market due to the low momentum of the price or when to hold trade in anticipation of a big move.
Conclusion
The Change Indicator for MT4 is a reliable momentum indicator for your day-to-day trading activities. What’s more, the indicator stands on a separate window and so does not interfere with the candlesticks on your chart. Finally, it is available free to download.
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