The Guppy Multiple Moving Average (GMMA) indicator is a popular and useful tool in forex trading, especially for traders using the MetaTrader 5 platform. This free indicator helps traders to identify trends and potential entry and exit points by displaying multiple moving averages on the chart. The GMMA indicator consists of two sets of moving averages: the short-term set, which reflects the behavior of short-term traders, and the long-term set, which reflects the behavior of long-term investors. When the short-term moving averages cross above the long-term moving averages, it is considered a bullish signal, indicating a potential uptrend. Conversely, when the short-term moving averages cross below the long-term moving averages, it is considered a bearish signal, indicating a potential downtrend. Traders can use the GMMA indicator to confirm trends, identify support and resistance levels, and make informed trading decisions based on the alignment of the moving averages.
MT5
Guppy Multiple Moving Average
Guppy Multiple Moving Average Indicator MT5 is a useful forex indicator that is popular among traders. It is available for free on the MT5 platform. This indicator works by plotting multiple moving averages on the chart to determine the market trend. Traders can use it to identify potential entry and exit points in their trading strategy.
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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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