The Ball Indicator is a popular and useful free Forex indicator for MetaTrader 4 (MT4) trading platforms. It is a technical tool that can be used to identify and analyze trends in the Forex market. The Ball Indicator is designed to help traders identify when a trend is forming, when it is weakening, and when it is reversing. It can also be used to determine the strength of a trend and to identify potential entry and exit points. The Ball Indicator is based on a combination of moving averages and the Relative Strength Index (RSI). The moving averages are used to identify the trend direction and the RSI is used to measure the strength of the trend. The indicator plots a series of colored balls on the chart, each color representing a different trend. A blue ball indicates an uptrend, a red ball indicates a downtrend, and a yellow ball indicates a range-bound market. When the indicator is combined with other technical indicators, such as support and resistance levels, it can be used to identify potential entry and exit points for trades.
MT4
Ball Indicator
The Ball Indicator is a popular and useful Forex indicator for MT4. The indicator works by plotting a series of colored balls on the chart that represent buy and sell signals. The indicator is easy to use and is a great addition to any trader’s toolbox.
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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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