The Doji Detector is a useful forex indicator that is popular among traders using the MT4 platform. This free indicator detects Doji candlestick patterns, which indicate indecision in the market. A Doji candlestick has a small body and wicks on both ends, showing that the open and close prices are very close or equal. When a Doji pattern is identified, it signals a potential reversal or continuation of the current trend. Traders can use this indicator to make sound trading decisions by paying attention to Doji patterns on different time frames. When combined with other technical analysis tools, the Doji Detector can help traders identify potential entry and exit points in the forex market. Overall, the Doji Detector is a valuable tool for traders looking to improve their trading strategies and increase their chances of success in the forex market.
MT4
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Doji Detector
Doji Detector is a popular and useful forex indicator for MT4 that helps traders identify doji candlestick patterns on their charts. This indicator is free to use and can be a valuable tool for determining potential trend reversals in the market. Traders can use the Doji Detector to improve their trading strategies and make more informed decisions when buying or selling currencies.
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Category: Signal
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Description
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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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