The Wave Rider Zigzag Indicator is a useful and popular free Forex indicator for MT4. It is used to identify the trend direction and to determine potential reversal points. The indicator consists of two lines, the fast line and the slow line. The fast line is a more sensitive line and is used to identify the trend direction. The slow line is a less sensitive line and is used to determine potential reversal points. When the fast line crosses above the slow line, it indicates an uptrend. When the fast line crosses below the slow line, it indicates a downtrend. When the fast line and the slow line are close together, it indicates a flat market. The Wave Rider Zigzag Indicator is easy to use and can be used to identify potential entry and exit points. It can also be used to identify potential support and resistance levels. The indicator can be used in conjunction with other technical indicators to help confirm the trend direction. It is also a great way to identify potential support and resistance levels.
MT4
Wave Rider ZigZag
The Wave Rider Zigzag Indicator is a popular and useful Forex indicator for the MT4 trading platform. It displays a series of zigzag lines that are connected with each other to form a wave pattern. The Wave Rider Zigzag Indicator is a great tool for traders who want to take advantage of the potential of the Forex market. It is easy to use and can help traders make more informed 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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