The CCI (Commodity Channel Index) is a popular forex indicator that is widely used by traders on the MT4 platform. This useful indicator is known for its ability to identify overbought and oversold conditions in the market, helping traders make informed trading decisions. The CCI is a free indicator that is easy to use and can be applied to any chart to help identify potential trend reversal points. It works by measuring the difference between the current price and its historical average, giving traders a clear indication of market momentum. Traders use the CCI by looking for divergences between the indicator and price action, as well as overbought and oversold conditions. By incorporating the CCI into their trading strategies, traders can improve their chances of making profitable trades in the forex market.
MT4
CCI Ranked
The CCI (Commodity Channel Index) indicator is a popular and useful forex indicator for MT4. It is widely used by traders to identify overbought or oversold conditions in the market. The CCI is a free indicator included in most trading platforms and is easy to use. By measuring price fluctuations, it helps traders make informed decisions to maximize profitability.
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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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