The Direction Indicator is a useful tool for forex traders using the popular MT4 platform. This free indicator helps traders determine the direction of the trend, allowing them to make more informed trading decisions. The indicator works by analyzing price movements and identifying the overall direction of the market. It then displays this information on the chart, making it easy for traders to see which direction the market is currently moving in. To use the Direction Indicator, traders simply need to add it to their MT4 platform and customize the settings to suit their trading style. Once installed, the indicator will provide real-time information on the direction of the trend, helping traders to identify potential entry and exit points for their trades. Overall, the Direction Indicator is a valuable tool for forex traders looking to improve their trading accuracy and make more profitable trades.
MT4
Direction Indicator
Direction Indicator is a useful forex indicator for MT4 that can help traders identify the trend direction of a currency pair. This popular and free indicator works by analyzing price movements and providing signals on whether to buy or sell. Traders can use it to make informed decisions and improve their trading strategies.
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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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