The 123 Forex Patterns indicator is a popular and useful tool for forex traders using the MT4 platform. This indicator helps traders identify potential reversal patterns in the forex market, allowing them to make more informed trading decisions. The best part is that it is completely free to use. The indicator works by analyzing price action to identify patterns such as double tops, double bottoms, head and shoulders, and more. Traders can use this information to anticipate potential market movements and enter or exit trades at the most opportune times. The 123 Forex Patterns indicator is easy to use and can be customized to suit individual trading styles. Overall, the 123 Forex Patterns indicator is a valuable tool for forex traders looking to improve their trading strategies and increase their chances of success in the market.
MT4
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Forex Patterns
The 123 Forex Patterns indicator is a popular and useful tool for traders on the MT4 platform. This free indicator helps identify potential trading opportunities based on the classic 123 pattern. By recognizing these patterns, traders can make more informed decisions about when to enter or exit trades. Simply install the indicator on your platform and start using it to improve your trading strategy.
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Category: Support & Resistance
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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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