The 123 Triangles indicator is a useful tool for forex traders using the MetaTrader 4 platform. This popular indicator is free to download and provides valuable insights into potential price movements in the forex market. The indicator works by identifying patterns of three consecutive price bars that form a triangle shape on the chart. These triangles can indicate potential reversals or continuation patterns, allowing traders to make informed decisions about their trades. To use the 123 Triangles indicator, simply download and install it on your MT4 platform. Once activated, the indicator will automatically scan the price chart for triangle patterns and display them for analysis. Traders can then use this information to plan their entry and exit points, helping them to maximize profits and minimize risks in their forex trading.
MT4
Triangles Indicator
The 123 Triangles indicator is a popular and useful free forex indicator for MT4. It works by identifying the formation of triangle patterns on the chart, signaling potential breakouts. Traders can use this indicator to spot entry and exit points, as well as to set stop-loss and take-profit levels. Stay ahead of the market with the 123 Triangles indicator.
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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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