The Candles Ratio Indicator for MT4 is a popular and useful free Forex indicator. This indicator is designed to help traders identify the ratio between the open and close of candles in their charts. This ratio is then used to determine the trend direction of the market. The indicator also helps to identify potential support and resistance levels. The Candles Ratio Indicator for MT4 is easy to use and set up. All you need to do is install the indicator on your MT4 platform and you are ready to go. The indicator is displayed as two lines on your chart. The first line is the ratio of the open to the close of the candles. The second line is the ratio of the close to the open. By comparing these two lines, traders can identify the trend direction of the market. This ratio can then be used to determine the trend direction of the market and identify potential support and resistance levels.
MT4
Candles Ratio
The Candles Ratio Indicator for MT4 is a free and popular Forex indicator that helps traders identify the strength of a trend. It works by comparing the size of the current candle to the average candle size of the previous candles. It is a great tool for both novice and experienced traders, and is free to download and use.
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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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