The Percentage Price Oscillator (PPO) is a popular and free MT5 forex indicator that is useful for identifying short-term and long-term price trends. It is a momentum oscillator that is calculated by subtracting a longer-term moving average from a shorter-term moving average and then dividing the result by the longer-term moving average. The resulting value is then plotted as a line on a chart. The PPO is used to identify potential overbought and oversold conditions, as well as possible trend reversals. When the PPO line is above zero, it indicates that the shorter-term moving average is higher than the longer-term moving average, which is indicative of a bullish trend. Conversely, when the PPO line is below zero, it indicates that the shorter-term moving average is lower than the longer-term moving average, which is indicative of a bearish trend. Overall, the Percentage Price Oscillator is a useful and popular MT5 forex indicator that can be used to identify potential trend reversals and overbought and oversold conditions.
MT5
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Percentage Price Oscillator
The Percentage Price Oscillator (PPO) indicator for MT5 is a useful and popular free Forex indicator. The PPO indicator plots the difference between a 26-period and 12-period exponential moving averages as a histogram on the price chart. The PPO indicator for MT5 is a great tool for traders of all levels, and can be used to identify potential entry and exit points.
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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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