The Derivative Line Indicator is a popular and useful free Forex indicator for the MT4 trading platform. It uses a unique approach to analyzing the markets and provides traders with a clear view of the current market trend. The indicator is designed to identify the direction of the trend, and then it plots a line that follows the trend. This line is known as the Derivative Line. The Derivative Line Indicator works by calculating the derivative of the price action of the market. This is done by taking the difference between the current price and the previous price, and then dividing it by the time interval. This gives the indicator an idea of the rate of change of the price. If the rate of change is positive, the indicator will plot a line that follows the trend in a positive direction. If the rate of change is negative, the indicator will plot a line that follows the trend in a negative direction. The Derivative Line Indicator is easy to use and is available for free on the MT4 trading platform. It is a popular and useful indicator for Forex traders who are looking for a reliable way to identify the direction of the trend.
MT4
Derivative Line
Derivative Line Indicator is a useful and popular free Forex indicator for MT4. It is designed to help traders identify trend direction and strength. The Derivative Line Indicator uses a combination of two moving averages and a signal line to generate buy/sell signals. When the signal line crosses above the two moving averages, it is a buy signal, and when it crosses below the two moving averages, it is a sell signal. It is a great tool for traders to quickly identify when to enter and exit the market.
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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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