The Average Directional Index (ADX) is one of the most useful and popular Forex indicators available. The ADX indicator is a free indicator available on the MetaTrader 4 (MT4) platform, and it is used to measure the strength of a trend. The ADX indicator works by measuring the difference between two moving averages, and then calculating the moving average of the difference. The resulting value is then plotted on a scale of 0 to 100. A reading of 25 or higher indicates a strong trend, while a reading of below 20 indicates a weak trend. The ADX indicator is a great tool for traders who are looking to identify the strength of a trend and determine potential entry and exit points. The indicator can also be used to determine whether a trend is likely to continue or reverse. Traders can use the ADX indicator to identify potential areas of support and resistance and to decide when to enter or exit a trade. The ADX indicator is easy to use and understand, making it a popular choice for many Forex traders.
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Average Directional Index
The Average Directional Index (ADX) is a popular and free Forex indicator used by traders to identify the strength of a trend. The ADX is a great tool for measuring the strength of a trend, as it can help traders identify when a trend is developing, and when it is weakening. The ADX is a versatile indicator that can be used to determine the strength of any trend in the Forex market, allowing traders to make informed decisions on when to enter and exit positions.
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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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