The OBV Mod Indicator is a popular and useful tool for forex traders using the MT4 platform. This free forex indicator helps to identify the strength of a trend by measuring the volume flow. It works by cumulating volume on up days and subtracting volume on down days. This creates a smoother line that eliminates some of the choppiness found in traditional OBV indicators. The OBV Mod Indicator can be used to confirm price movement and spot potential trend reversals, making it a valuable tool for traders looking to make informed decisions in the forex market. To use the OBV Mod Indicator, simply add it to your MT4 chart and observe the line movements in relation to price action. When the indicator confirms a trend, traders can use this information to enter or exit trades with more confidence.
MT4
OBV Mod
The OBV Mod Indicator is a useful forex indicator for MT4 that is popular among traders for its accuracy in measuring buying and selling pressure. This free indicator works by tracking volume flow to predict price movements. Traders can use OBV Mod to confirm trends and spot potential reversals. It is a valuable tool for technical analysis in forex trading.
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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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