The Alligator indicator is a popular and useful forex indicator for MT5 that is available for free. This indicator’s main purpose is to help traders identify trends and potential changes in the market. The Alligator indicator consists of three smoothed moving averages, each representing a different time period. These moving averages are colored differently (green, red, and blue) to make it easier for traders to interpret the signals. When the lines are intertwined, it indicates a sleeping market, while a wide spread between the lines signifies a trending market. Traders can use the Alligator indicator to determine when to enter or exit a trade based on the signals it generates. By paying attention to the crossovers and position of the lines, traders can make informed decisions about their forex trades.
MT5
Alligator indicator
The Alligator Indicator for MT5 is a popular and useful forex indicator that is available for free. It helps traders to identify trends and potential entry points in the market. The indicator works by using three smoothed moving averages to determine the direction of the trend. Traders can use it to make informed decisions and increase their chances of success in the forex market.
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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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