The Force Index MTF Indicator for MT4 is a very useful and popular free Forex indicator. It is designed to help traders identify trend changes and measure the strength of a trend. The Force Index MTF Indicator works by combining price and volume to measure the strength of a trend. It uses a smoothing algorithm to calculate the smoothed force index, which is then used to generate signals for trading. The indicator is based on the concept of force index, which was developed by Alexander Elder. The Force Index MTF Indicator can be used to identify trend reversals and confirm the strength of a trend. It has two main components: the force index and the smoothed force index. The force index is calculated by taking the difference between the current closing price and the previous closing price and multiplying it by the volume. The smoothed force index is calculated by taking the average of the force index over a specified period. This allows traders to identify trend reversals and confirm the strength of a trend. It is a great tool for traders who are looking to identify trend reversals and confirm the strength of a trend.
MT4
Force Index MTF
The Force Index MTF Indicator is a popular and free Forex indicator for MT4. It is a useful tool that can help traders identify turning points in the market. The indicator is calculated by multiplying the current price by the volume and subtracting the previous period’s Force Index value. Traders can use the Force Index MTF Indicator to identify potential entry and exit points in the market.
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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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