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Corona Dashboard V1

The Corona Dashboard V1 indicator for MT4 displays different market metrics. The indicator is highly recommended for all Forex traders and is a great way to stay informed and up to date with the latest market news and events.

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Description

The Corona Dashboard V1 indicator for MT4 is an informational indicator that displays different market metrics in a dashboard to provide traders with an overview of the market conditions. It is an incredible trading asset for novice and experienced traders, designed to enhance objective technical analysis and decision-making.

Features of the Corona Dashboard V1 Indicator for MT4

The indicator is a chart-friendly tool built with algorithms that provide real-time updates on market metrics like the Cycle Period, Swing Position, S/N ratio, and Market Vigor. These metrics are represented on a number scale in a row; their readings are highlighted using an arrow, which depicts the current market condition of a financial instrument.

The Cycle Period metric shows the level of the current trend cycle. On the other hand, the Swing Position reveals the condition of the market within a swing cycle – positive and negative swing positions suggest a bullish and bearish trend, respectively. The neutral swing position indicates a ranging market.

Furthermore, the metric for S/N shows the strength of the signal relative to the background noise (fluctuations) – a high S/N value indicates a strong reliable signal with little noise, while a low value depicts a weak signal with market noises. Finally, the Market Vigor row displays the current trend strength and momentum of an instrument, which helps traders determine the strength and weakness of the trend.

Benefits of Using the Indicator

  • Overview Market Analysis: The Corona Dashboard indicator uses multiple technical analytic tools to provide traders with an overview of different market conditions. This helps traders make a more objective technical analysis and trading decisions.
  • Time-Saving: The indicator saves traders the time it would take to analyze different market aspects manually. Thus, it eases technical analysis and enhances better decision-making.

 Indicator Settings Description

The indicator comes with the following customizable settings:

TimeFrame: Defines the time frame to begin analysis.

Price: Determines the price to start the market analysis.

X_Distance: Defines the horizontal position of the indicator’s dashboard chart.

Y_Distance: Defines the vertical position of the indicator’s dashboard on the chart.

XY_Corner: Determines the corner of the indicator’s dashboard on the chart.

TexColor: Determines the color to display the text.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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