The Candles Price Action Indicator for MT4 is a popular and useful tool for forex traders looking to analyze price movements. This free indicator helps traders identify key levels and trends based on candlestick patterns. The indicator works by scanning the market and highlighting important price action signals, such as engulfing patterns, dojis, and pin bars. It displays these signals on the chart, making it easier for traders to make informed decisions. To use the indicator, simply install it on your MT4 platform and apply it to your desired chart. You can customize the settings to suit your trading style and preferences. By incorporating the Candles Price Action Indicator into your trading strategy, you can enhance your analysis and increase your chances of making profitable trades in the forex market.
Candles Price Action
Candles Price Action Indicator MT4 is a popular and useful forex indicator designed for MetaTrader 4. This free indicator analyzes candlestick patterns to provide insights into market direction. Traders can use it to identify potential entry and exit points based on price action signals. Simply install the indicator on your MT4 platform, and use it to enhance your trading strategy.
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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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