The Correlation Indicator is a free and popular Forex indicator for MetaTrader 4 (MT4). It is a useful tool for traders as it helps them to identify and measure the correlation between different currency pairs. The indicator shows the correlation between two currency pairs over a period of time. It is a graphical representation of the correlation between two currency pairs, providing a visual representation of the strength of the correlation. The Correlation Indicator is a useful tool for traders as it helps them to identify correlations between different currency pairs. It is also useful for traders to identify potential trading opportunities. The indicator helps traders to identify pairs that are highly correlated and those that are not. It can also be used to identify pairs that are trending in the same direction.
MT4
Correlation Indicator
The Correlation Indicator is a useful and popular free Forex MT4 indicator that helps traders identify correlations between different currency pairs. The indicator can be used to spot trends and changes in the market, as well as to identify potential trading opportunities. The indicator is easy to use and can be quickly set up on any MT4 platform. It is also free to download and use, making it a popular choice among Forex traders. It is also free to download and use, making it a popular choice among Forex traders.
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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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