The ATR Candle Length Indicator is a useful and popular free Forex indicator for MetaTrader 4 (MT4). This indicator measures the length of each candle in the chart, which is useful for traders who want to spot trends and make trading decisions based on the length of the candle. The ATR Candle Length Indicator works by measuring the length of each candle in the chart, which is then displayed in a histogram. This indicator is easy to use and can be quickly added to any MT4 chart. The ATR Candle Length Indicator can be used to identify trends in the market. If the candles in the chart are consistently longer than average, it could indicate that the market is trending up. Conversely, if the candles are consistently shorter than average, it could indicate that the market is trending down. This indicator can also be used to spot reversals in the market. If the candles suddenly become shorter or longer than average, it could be a sign that the market is about to reverse direction. It is a popular and free indicator that can be used to identify trends, spot reversals, and determine the strength of a trend.
MT4
ATR Candle Length
This free ATR Candle Length Indicator is a useful tool for Forex traders who use the MT4 platform. The indicator works by displaying the ATR value of the current candle, as well as the length of the candle in relation to the ATR value. With its help, traders can quickly identify potential trading opportunities and make better 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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