The Moving Average Convergence Divergence (MACD) indicator is one of the most popular and useful Forex indicators available for the MT4 platform. It is a free indicator that helps traders identify trends, spot potential reversals and measure momentum. The MACD indicator is based on the relationship between two moving averages of price. The indicator consists of two lines, the MACD line and the signal line. The MACD line is the difference between two exponential moving averages (EMA) of closing prices. The signal line is an EMA of the MACD line. When the MACD line crosses above the signal line, it is a signal to buy. Conversely, when the MACD line crosses below the signal line, it is a signal to sell. It is a popular and free indicator available for the MT4 platform.
MT4
Moving Average Convergence Divergence
The Moving Average Convergence Divergence (MACD) is a popular and free Forex indicator for MetaTrader 4 (MT4). It then plots a histogram and a signal line to indicate the trend. The MACD indicator can be used to identify trend reversals, and to spot potential buying and selling opportunities. The MACD is a popular indicator among Forex traders as it can be used to confirm other technical analysis indicators.
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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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