The MTF MACD Bars Indicator is a popular and free forex indicator for the MetaTrader 4 (MT4) trading platform. It is a useful tool for traders who want to identify potential trend reversals and trade breakouts. The indicator shows the MACD (Moving Average Convergence Divergence) on multiple timeframes and can be used to identify trend reversals and breakouts in the forex market. The MTF MACD Bars Indicator displays the MACD line, signal line and histogram on the chart. The MACD line is the difference between two exponential moving averages (EMA) and is used to identify potential trend reversals. The signal line is a 9-period EMA of the MACD line and is used to generate buy and sell signals. The histogram is the difference between the MACD line and the signal line and is used to identify potential breakouts.
MTF Macd Bars
The MTF MACD Bars indicator is a useful and popular free Forex indicator for the MT4 platform. The indicator has two main components – a fast line and a slow line. The fast line is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA. The slow line is calculated by subtracting the 26-period EMA from the 9-period EMA. When the fast line crosses above the slow line, it signals a buy opportunity. When the fast line crosses below the slow line, it signals a sell opportunity. The MTF MACD Bars indicator is a powerful and versatile tool that can be used to identify trend reversals and 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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