The Drive Indicator MT4 is a popular and free Forex indicator that is useful for traders of all levels. This tool is designed to help traders identify potential entry and exit points in the market, as well as to provide insight into the momentum and direction of the current trend. The Drive Indicator is based on the Average Directional Index (ADX) and uses two separate lines to measure the strength and direction of the trend. The green line indicates a strong uptrend, while the red line indicates a strong downtrend. The Drive Indicator MT4 is easy to use and can be applied to any chart. It is important to note that this indicator is best used in combination with other indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). By combining this indicator with other technical analysis tools, traders can gain insight into the momentum and direction of the current trend and identify potential entry and exit points in the market.
MT4
Drive Indicator
The Drive Indicator MT4 is a popular and free Forex indicator that is useful for traders of all levels. It plots a line that shows when the market is trending and when it is moving sideways. The Drive Indicator MT4 is a great tool for both beginner and experienced traders, providing an efficient way to analyze the market and make profitable trades.
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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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