The Chain Price RSI Indicator is a popular and useful tool for forex traders using the MT4 platform. This free indicator helps traders identify overbought and oversold conditions in the market based on the Relative Strength Index (RSI) indicator. The Chain Price RSI Indicator works by combining the RSI with price action to give traders a clearer picture of market momentum and potential reversal points. When the RSI reaches extreme levels, the indicator will plot arrows on the chart to signal potential trading opportunities. To use the Chain Price RSI Indicator, traders can simply add it to their MT4 platform and apply it to their preferred currency pairs or timeframes. By incorporating this indicator into their trading strategy, traders can make more informed decisions and improve their overall trading performance in the forex market.
MT4
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Chain Price RSI
Chain Price RSI Indicator is a popular and useful forex indicator for MT4 that is available for free. This indicator analyzes price movements to generate buy or sell signals based on RSI levels. Traders can use this indicator to identify overbought or oversold conditions in the market, helping them to make more informed trading decisions.
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Category: Stochastic
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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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