The ADX of OBV indicator for MT4 is a useful tool for forex traders looking to gauge the strength of a trend. This popular indicator combines the Average Directional Index (ADX) with the On Balance Volume (OBV) to provide a more comprehensive view of market momentum. The ADX of OBV indicator works by measuring the strength of a trend based on the OBV values, which are then smoothed using the ADX formula. Traders can use this indicator to identify potential trend reversals or confirm the strength of an existing trend. This indicator is free to download and easy to use on the MT4 platform. Simply add the indicator to your chart and interpret the values to make informed trading decisions. Whether you are a beginner or experienced trader, the ADX of OBV indicator can be a valuable tool in your forex trading arsenal.
MT4
Adx Of OBV
ADX of OBV Indicator MT4 is a useful forex indicator that combines two popular indicators – Average Directional Index (ADX) and On Balance Volume (OBV). This free indicator helps traders identify the strength of a trend and potential reversal points. By analyzing the relationship between OBV and ADX, traders can make informed decisions on when to enter or exit trades.
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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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