The Blau SMI indicator is a popular and useful forex indicator that is available for free on the MT4 platform. This indicator is designed to provide traders with insights into market momentum by analyzing price movements over a specified period of time. The Blau SMI indicator works by plotting a line that oscillates above and below a centerline, which represents market momentum. Traders can use this indicator to identify potential trend reversals, overbought or oversold conditions, and potential entry and exit points. To use this indicator effectively, traders should look for crossovers of the indicator line with the centerline, as well as divergences between the indicator and price movement. By paying attention to these signals, traders can make more informed trading decisions and improve their chances of success in the forex market.
MT4
Blau SMI
Blau SMI Indicator is a popular and useful free forex indicator for MT4. It works by measuring the momentum of price movements and can be used to identify potential trend reversals. Traders can use this indicator to make informed decisions on when to enter or exit trades. Learn more about how to use the Blau SMI Indicator on our website.
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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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