If you’re trading on MetaTrader 4, you need to have a solid grip on the Price Quote indicator. This handy tool shows you the current bid price and the percentage change compared to either the opening price of the current bar or the previous bars. It also provides you with the High, Low, and the range of prices.
How the Price Quote Indicator Works
Here are some examples to help you understand how this indicator functions:
- % Change for the Current Day: When set to Period D1 and Shift 0, this compares the current price to the opening price of the day.
- % Change for the Current Hour: For a Period of H1 and Shift 0, this measures the current price against the opening price of the hour.
- % Change for the Last Hour’s Minutes: If you set it to Period M1 and Shift 60, it compares the current price to the M1 bar from 60 minutes ago. It calculates the High, Low, and range based on the last 60 M1 bars, following the last hour's trend without resetting every hour, which is a common feature of H1 bars.
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