Smoothed RSI indicator is a free and popular MT5 forex indicator that is useful for traders of all levels. It is based on the Relative Strength Index (RSI) indicator and helps to identify the trend direction, determine the overbought and oversold levels, and find potential entry and exit points for trading. The Smoothed RSI indicator utilizes a smoothing process to reduce the noise of the RSI indicator and make it easier to interpret. It is based on the standard RSI formula, but uses a different approach to calculate the RSI value. This approach makes it more responsive to market changes and allows traders to spot trading opportunities more quickly. The Smoothed RSI indicator is easy to use and can be added to any MT5 chart. It is displayed as a single line that oscillates between 0 and 100. Traders can use the indicator to identify the trend direction, determine the overbought and oversold levels, and find potential entry and exit points for trading. It is free, easy to use, and can be added to any MT5 chart.
MT5
Smoothed RSI
The Smoothed RSI indicator for MT5 is a useful free Forex indicator that is becoming increasingly popular among traders. It works by taking the average of the RSI over a period of time, which reduces the amount of noise and makes it easier to identify trends. The Smoothed RSI indicator is a great way to stay ahead of the market and make informed trading decisions.
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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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