The Derivative Oscillator indicator is a useful tool for forex traders on the MT5 platform. It is a popular indicator that is available for free and can help traders identify potential trend reversals. The indicator works by calculating the difference between two moving averages of different periods. It then plots this difference as a histogram, which oscillates above and below the zero line. When the histogram crosses above the zero line, it indicates a bullish trend, while crossing below the zero line indicates a bearish trend. Traders can use the Derivative Oscillator to confirm trends and potential entry and exit points. It can also be used in conjunction with other technical indicators to improve trading decisions. Overall, the Derivative Oscillator is a valuable tool for forex traders looking to analyze market trends and make informed trading decisions.
MT5
Derivative Oscillator
Derivative Oscillator Indicator for MT5 is a popular and useful forex indicator that is available for free. This indicator works by comparing two moving averages to determine potential trend reversals. Traders can use this indicator to identify overbought and oversold conditions in the market. By adding the Derivative Oscillator Indicator to their MT5 platform, traders can make more informed 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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