The Power Measure Forex indicator for Metatrader 5 is an oscillator that displays the ratio of the price change to volatility.
The indicator is displayed in a separate chart window as an orange colored line.
It’s recommended to combine this technical tool with other indicators or with price action techniques.
The indicator contains the following inputs and parameters: period (20), style, and color.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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Power_Measure.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Power Measure indicator looks like when applied to the MT5 chart.
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Power_Measure.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Power_Measure.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration