The Absolute Strength Indicator (ASI) is a popular and free MT5 forex indicator that is useful for traders who want to measure the strength of a currency pair. The ASI indicator is based on the average of the absolute price movements of a currency pair over a specified period of time. It takes into account both the magnitude and the direction of the price movements. The indicator is usually displayed as a histogram, with green bars representing positive price movements and red bars representing negative price movements. The ASI indicator is used to identify potential trend reversals in the market. By looking at the indicator, traders can gauge the strength of a currency pair and determine if it is likely to continue in the same direction or if it is likely to reverse. If the indicator is showing a strong positive trend, it could indicate that the currency pair is likely to continue in the same direction. However, if the indicator is showing a strong negative trend, it could indicate that the currency pair is likely to reverse. The indicator is easy to use and can help traders identify potential trend reversals and entry and exit points in the market.
MT5
Absolute Strength
The Absolute Strength Indicator (ASI) for MT5 is a popular, free, and useful Forex indicator. The indicator plots the absolute value of the difference between the two currencies, and can be used to identify trends and potential trading opportunities. It is a great tool for both beginner and experienced traders alike.
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Category: Stochastic
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Description
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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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