The Alligator Modified Line Indicator is a useful Forex indicator for MetaTrader 4 (MT4) that is popular with traders. It is a free indicator that helps traders identify trends and potential entry and exit points with ease. The Alligator Modified Line Indicator is based on the Alligator indicator, which is a technical analysis tool used to identify trends and measure their strength. It is composed of three moving averages that are used to identify a trend. The Alligator Modified Line Indicator takes the Alligator indicator a step further by adding a fourth line which is used to identify potential entry and exit points. The Alligator Modified Line Indicator uses four lines to identify trends. The first line is the Alligator Jaw, which is a simple moving average of the midpoints of the last five candles. The second line is the Alligator Teeth, which is a simple moving average of the midpoints of the last eight candles. The third line is the Alligator Lips, which is a simple moving average of the midpoints of the last eleven candles. The fourth line is the Alligator Modified Line, which is a simple moving average of the midpoints of the last fourteen candles.
MT4
Alligator Modified Line
The Alligator Modified Line Indicator is a useful and popular free Forex indicator for MT4 (MetaTrader 4) platforms. It is based on the Alligator Indicator, which was developed by Bill Williams. The Alligator Modified Line Indicator is designed to help traders identify trends in the market by combining the three lines of the Alligator Indicator. It is a great tool for traders who want to make informed decisions about their 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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