The Binary Wave Indicator is a useful and popular free Forex indicator for MT4 (Metatrader 4). It is designed to help traders identify and take advantage of short-term price movements in the market. The Binary Wave Indicator is based on a combination of trend-following and oscillator indicators, allowing traders to identify new trends and potential entry points. The indicator works by combining two different indicators: the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). The RSI is used to measure the strength of the current trend, while the MACD is used to identify potential entry points. As the RSI and MACD indicators move in tandem, they can help traders identify new trends and potential entry points. The Binary Wave Indicator is easy to use and can be a valuable tool for traders looking to take advantage of short-term price movements in the market. With its easy-to-use interface and alert feature, the Binary Wave Indicator can be a great addition to any trader’s toolbox.
MT4
Binary Wave Indicator
The Binary Wave Indicator is a popular and free Forex indicator for the MT4 trading platform. The indicator is based on a wave-like pattern, which is used to identify the current trend in the market. It also provides clear signals for traders to enter and exit the market. The indicator is easy to use and can be used on any currency pair or timeframe. It is also highly accurate, making it a popular choice among Forex traders. With the Binary Wave Indicator, traders can easily identify the market trend and make profitable 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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