The Sideway Trend Indicator is a useful and popular free Forex indicator for MT4. This indicator is designed to help traders identify potential sideways trend reversals in the Forex market. It uses a combination of trendlines, support and resistance levels, and Fibonacci retracements to identify potential trend reversals. The Sideway Trend Indicator is easy to use and can be applied to any currency pair. It displays trendlines, support and resistance levels, and Fibonacci retracements on the chart. The indicator also provides alerts when a potential trend reversal is identified. This allows traders to take advantage of the reversal before it occurs. The Sideway Trend Indicator is a great tool for traders of all levels. It is easy to use and provides traders with the information they need to make informed trading decisions.
MT4
Sideway Trend
The Sideway Trend Indicator is a useful and popular free MT4 Forex indicator. The indicator works by analyzing the price action of the currency pair and identifying sideways trends. It then draws a line on the chart that is used to identify the trend direction. The indicator also provides traders with entry and exit signals, making it easy to trade sideways trends. The indicator is free to download and is compatible with the popular MT4 trading platform.
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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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