The PET-D indicator is a useful tool for forex trading on the popular MT5 platform. This indicator helps traders identify the direction of the trend, making it easier to enter and exit trades at the right time. The PET-D indicator works by analyzing price movements and highlighting trend changes with colored bars on the chart. Green bars indicate an uptrend, while red bars indicate a downtrend. This visual representation makes it easy for traders to see the direction of the market at a glance. To use the PET-D indicator, simply add it to your MT5 chart and look for areas where the bars change color. When the bars change from red to green, it may be a signal to buy. Conversely, when the bars change from green to red, it may be a signal to sell. This indicator is popular among traders for its simplicity and effectiveness in identifying trends in the forex market.
MT5
Pet D indicator
The PET-D Indicator for MT5 is a popular and useful forex indicator that is available for free. This indicator helps traders identify trend direction and potential entry and exit points. By utilizing a unique color-coding system, the PET-D Indicator simplifies the process of identifying trends and making trading decisions. Traders can easily incorporate this indicator into their MT5 trading strategy for enhanced results.
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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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