The Relative Vigor Index (RVI) indicator is a useful tool for forex traders using the popular MetaTrader 4 (MT4) platform. This free indicator helps traders identify the strength of a trend by comparing the closing price to the opening price. The RVI indicator can be used to confirm trends and identify potential trend reversals. To use the RVI indicator, simply add it to your MT4 chart and interpret the values. A rising RVI indicates that the market is trending upwards, while a falling RVI suggests a downtrend. Traders can use the RVI in conjunction with other technical analysis tools to make informed trading decisions. Overall, the RVI indicator is a valuable resource for forex traders looking to gauge market momentum and identify potential trading opportunities.
MT4
MTF RVI Indicator
RVI Indicator is a popular and useful forex indicator for MT4. It is a free indicator that measures the strength of a trend by comparing the closing price to the trading range. Traders can use the RVI Indicator to identify potential trend reversals and trade entry points. This indicator is widely used by forex traders to make informed trading decisions.
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Category: Stochastic
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Description
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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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