The RSI Lido indicator is a popular and useful tool for forex traders using the MT4 platform. This free indicator is based on the Relative Strength Index (RSI) and is designed to help traders identify overbought and oversold conditions in the market. The RSI Lido indicator works by measuring the speed and change of price movements, providing traders with valuable insights into potential market reversals. When the indicator is above 70, it indicates that the market may be overbought and a potential reversal could be on the horizon. Conversely, when the indicator is below 30, it suggests that the market may be oversold and a possible uptrend could be imminent. Traders can use the RSI Lido indicator in conjunction with other technical analysis tools to make informed trading decisions. By understanding how to interpret the signals provided by the indicator, traders can improve their chances of success in the forex market.
MT4
RSI Lido
The RSI Lido is a popular and useful free forex indicator for MT4. It calculates the strength of a trend and helps traders identify overbought or oversold conditions in the market. By using this indicator, traders can make informed decisions on when to enter or exit trades. Its simple and intuitive design makes it a favorite among forex 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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