The Candlesticks BW Indicator for MT4 is a popular and useful forex indicator that is free to use. This indicator displays different colored candlesticks on your trading chart, making it easier to interpret price movements and trends in the forex market. The Candlesticks BW Indicator works by analyzing the open, high, low, and close prices of each candlestick to determine whether the market is bullish or bearish. Green candlesticks indicate that the market is bullish, while red candlesticks indicate that the market is bearish. Traders can use this indicator to identify potential entry and exit points for their trades, as well as to confirm the strength of a trend. It is a valuable tool for both beginner and experienced forex traders, providing clear visual cues to help make informed trading decisions.
MT4
Candlesticks BW
Candlesticks BW Indicator for MT4 is a popular and useful forex indicator that is available for free. This indicator displays candlestick patterns on the charts, making it easier for traders to analyze price movements. Traders can use this indicator to identify potential entry and exit points in the market. It works by highlighting various candlestick patterns and their significance in trading decisions.
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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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