The Absolute Strength Histogram is a useful forex indicator for MT4 that is popular among traders. This free indicator helps to analyze the strength of a currency pair by providing a visual representation in the form of a histogram. The indicator works by comparing the strength of a currency against a basket of other currencies, helping traders to identify potential trading opportunities. The histogram displays whether a currency is overbought or oversold, allowing traders to make informed decisions on when to enter or exit a trade. To use the Absolute Strength Histogram, simply add it to your MT4 chart and adjust the settings to suit your trading style. You can use the indicator on any time frame and pair, making it versatile for different trading strategies. Overall, this indicator is a valuable tool for forex traders looking to enhance their analysis and trading decisions.
MT4
Absolute Strenght Histogram
Absolute Strength Histogram is a popular and useful forex indicator for MT4 that provides a visual representation of the strength of a currency. It is free to download and easy to use. The histogram displays the difference between the strength of two currencies in a pair, helping traders identify potential trends and make 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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