The Candle Difference Indicator is a useful and popular free Forex indicator for MT4. It is easy to use and provides traders with a simple and clear way to measure the difference between the open and close of a candle. This indicator can be used to identify potential price reversals, as well as to gauge the strength of a trend. The indicator is composed of two lines, one representing the open price and the other the close price. When the lines are close together, it indicates a small difference between the open and close, while a larger difference between the two lines indicates a more volatile price movement. The Candle Difference Indicator can be used to identify potential price reversals, as when the lines cross, it can indicate a potential reversal. This indicator can also be used to gauge the strength of a trend. This indicator can be used to identify potential price reversals, as well as to gauge the strength of a trend.
MT4
Candle Difference
The Candle Difference Indicator is a useful and popular free Forex indicator for the MT4 trading platform. It helps traders to quickly and easily identify the difference between the opening and closing prices of a candle. The indicator is simple to use and can be applied to any time frame. It is a valuable tool for any Forex trader looking to gain an edge 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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