The SMI Indicator is a popular and useful free Forex indicator for the MT4 platform. It is a technical analysis tool used to identify trends and momentum in the currency markets. The SMI Indicator uses a combination of two moving averages and a momentum indicator to generate trading signals. The indicator has a range of settings which can be adjusted to suit different trading strategies. The SMI Indicator is designed to identify trend reversals and identify potential trading opportunities. The indicator uses two moving averages to identify the overall trend direction. When the two moving averages cross, it indicates a potential trend reversal. The momentum indicator is then used to confirm the trend reversal and to identify potential entry points.
MT4
Smi Indicator
The SMI Forex Indicator is a useful and popular free MT4 indicator, providing traders with a simple yet effective way to identify potential trading opportunities in the Forex market. The SMI indicator uses two moving averages, a fast and slow one, to generate buy and sell signals. When the fast moving average crosses above the slow moving average, it is a buy signal, and when the fast moving average crosses below the slow moving average, it is a sell signal. The SMI indicator is a great tool for traders looking to identify potential trading opportunities in the Forex market.
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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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