The Klinger Oscillator is a popular and useful forex indicator available for the MT5 platform. This indicator helps traders identify whether the volume of money flowing into or out of a currency pair is increasing or decreasing. The Klinger Oscillator works by combining price and volume into one cohesive indicator. It is calculated by taking the difference between two exponential moving averages of price and volume, which creates a line that fluctuates above and below a zero line. Traders can use the Klinger Oscillator to identify potential trend reversals or confirm the strength of a current trend. When the oscillator crosses above the zero line, it indicates buying pressure, while a crossover below the zero line indicates selling pressure. Overall, the Klinger Oscillator is a valuable tool for forex traders looking to analyze volume and price movements in the market.
MT5
Klinger Oscilator indicator
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Category: Stochastic
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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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