The Degrees Indicator is a useful forex indicator designed for the MetaTrader 4 platform. It is one of the most popular free indicators used by traders to analyze market trends and make informed trading decisions. This indicator works by calculating the angle of a moving average line to determine the strength of a trend. Traders can use this information to identify potential entry and exit points, as well as to gauge the momentum of a particular currency pair. To use the Degrees Indicator, simply add it to your MT4 platform and apply it to your chart. The indicator will then display the angle of the moving average line, giving you valuable insight into the direction and strength of the trend. Whether you are a beginner or experienced trader, the Degrees Indicator can enhance your forex trading strategy and help you make more informed decisions in the market.
MT4
Degrees Indicator
Degrees Indicator is a popular and useful forex indicator for MT4 that shows the angle of the moving average on the chart. This free tool helps traders identify the strength of a trend and potential reversal points. Simply add it to your chart and watch the color change based on the slope of the moving average. Use it to make informed trading decisions.
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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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