The Elder Impulse System Indicator is a popular and useful Forex indicator that is available for free on the MT4 platform. It is a trend-following indicator that was developed by Alexander Elder and is based on the concept of impulse and reaction. The indicator is designed to help Forex traders identify the start and end of a trend and to determine the strength of the trend. The Elder Impulse System Indicator consists of two components: the 13-day exponential moving average (EMA) and the MACD histogram. The 13-day EMA is used to identify the direction of the trend while the MACD histogram is used to measure the strength of the trend. When the 13-day EMA crosses above the MACD histogram, it signals the start of an uptrend and when the 13-day EMA crosses below the MACD histogram, it signals the start of a downtrend. Overall, the Elder Impulse System Indicator is a popular and useful Forex indicator that can be used to identify the start and end of a trend and to measure the strength of the trend. It is easy to use and is available for free on the MT4 platform.
Elder Impulse System
The Elder Impulse System Indicator is a popular and free Forex indicator for MT4. It is a useful tool for traders to identify the start of a new trend. It uses a combination of exponential moving averages and momentum indicators to identify the start of a new trend. The indicator is based on the Elder Impulse System developed by Alexander Elder, a renowned technical analyst. The indicator is free to use and is a great tool for traders looking for an effective way to identify potential trading opportunities.
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Description
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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