The Chande Qstick indicator is a useful tool for forex traders using the MT4 platform. It is a popular indicator known for its ability to visually represent the strength of a trend by measuring the difference between the opening and closing prices over a specific period. The indicator is free to use and can be easily added to your MT4 chart. To use the Chande Qstick indicator, simply add it to your chart and adjust the settings to suit your trading style. The indicator will plot a line above or below zero, depending on whether the price has closed higher or lower than the previous period. Traders can use this information to identify trends and potential reversals in the market.Overall, the Chande Qstick indicator is a valuable tool for forex traders looking to analyze trends and make informed trading decisions.
MT4
Chande Qstick
Chande Qstick Indicator is a popular and useful forex indicator for MT4, available for free. It helps traders analyze market momentum by comparing the opening and closing prices of a security within a specific time frame. By understanding the Qstick values, traders can make informed decisions about potential market trends and entry/exit points.
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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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