The Color MA BD V8 indicator is a free and popular Forex trading tool for MetaTrader 4 (MT4) platforms. It is a useful indicator that helps traders identify the trend direction and strength of the market. The indicator uses two moving averages of different colors to determine the trend direction and two other moving averages of different colors to determine the trend strength. The Color MA BD V8 works by calculating the difference between two moving averages and displaying the result as a color-coded line. If the two moving averages are moving in the same direction, the line will be colored green. If the two moving averages are moving in opposite directions, the line will be colored red. This helps traders quickly identify the trend direction and strength of the market. The indicator also displays a histogram to indicate the strength of the trend. The indicator is free and easy to use, making it a popular choice for Forex traders of all levels.
MT4
Color MD BD V8
The Color MA BD V8 Forex Indicator is a useful and popular Metatrader 4 (MT4) indicator that can help traders identify entry and exit points in the Forex market. The indicator uses two Moving Averages (MA) and two Bollinger Bands (BB) to detect entry and exit points. It is a great tool for both beginner and experienced traders.
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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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