The Psychological Indicator MT4 is a popular and free forex indicator that can be used to measure the psychology of the forex market. The indicator uses a range of different indicators to measure the market sentiment, including the Relative Strength Index (RSI), the Moving Average Convergence Divergence (MACD), and the Price Oscillator. The indicator can also be used to identify potential turning points in the market, as well as to determine the direction of the market. The indicator is useful for traders who want to gain insight into the psychology of the market and to identify potential opportunities. The Psychological Indicator MT4 works by analyzing different aspects of the market, such as the price action, the volume, and the volatility. This helps the trader to identify potential turning points in the market and to determine the direction of the market. The indicator also takes into account the sentiment of the market, which can be used to identify potential trading opportunities. The indicator also includes a range of other features, such as the ability to identify potential overbought and oversold conditions in the market. The indicator can also be used to identify potential overbought and oversold conditions in the market, as well as to identify potential trading opportunities.
MT4
Psychological Indicator
The Psychological Indicator for MT4 is a free and popular tool used by Forex traders to help them make better trading decisions. It is based on the principles of human behavior and psychology, and can be used to identify potential trading opportunities. The Psychological Indicator for MT4 is an invaluable tool for Forex traders looking to maximize their profits and minimize their losses.
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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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