Indices Percent Change Indicator

Indices Percent Change Indicator

Indices Percent Change Indicator For MT4 collects and shows multiple metrics about the forex currency pairs useful for short and long-term technical analysis.

The Indices Percent Change indicator for MT4 derives, calculates and displays information about the forex market movement. It shows Yearly low, high, range, open and close. Moreover, it calculates the 10 days average low, high and range. Furthermore, it shows range vs. 10 days average range percentage, price from open and PFO vs. 10 days average range percentage. A combination of these details helps the trader in technical analysis and to formulate trading strategies.

The indicator provides multiple data however, new forex traders should educate themselves with the details and apply them according to their trading style. By default the indicator collects data from the daily chart time frame regardless of the time frame it is attached. Since the data is based from daily time frame it is useful for short and long-term technical analysis.

Indices Percent Change Indicator For MT4 Trade Setup

The indicator plots the headers in yellow and the data in green and red. Traders should not be overwhelmed by the data but choose to interpret the data according to their trading strategy.

Particularly, the PFO – price from open is data is essential for forex traders comparing the open price and current price to identify trend strength. Another notable value is the Range vs. 10 days average range. These values help the long-term forex trader to gain valuable insight about the market movement.

Conclusion
In summary, the Indices percent change indicator for MT4 does not provide forex trading signals. But, it provides valuable details to the forex trader to make informed trading decisions. Additionally, traders can download this indicator for free and install it with ease.