The CCI Divergence Arrows Indicator is a useful forex indicator for spotting potential trend reversals in the market. This popular MT4 indicator is known for its accuracy in identifying divergence patterns between the price and the Commodity Channel Index (CCI) oscillator. The indicator works by displaying arrows on the chart when a divergence signal is detected. Traders can use these arrows as a signal to potentially enter or exit a trade. The CCI Divergence Arrows Indicator is free to download and can be easily installed on the MetaTrader 4 platform. To use the indicator effectively, traders should look for divergence patterns where the price is making higher highs or lower lows, while the CCI oscillator is showing the opposite pattern. This could signal a potential trend reversal in the market, providing valuable insights for traders looking to make informed trading decisions.
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CCI Divergence Arrows
The CCI Divergence Arrows Indicator is a popular and free forex indicator for MT4 that is useful in identifying divergence patterns in the market. It works by displaying arrows on the chart when there is a divergence between the price and the Commodity Channel Index (CCI) indicator. Traders can use this information to potentially spot potential trend reversals or continuations.
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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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