The 3-Screen Elder Indicator is a useful tool for forex traders using the MT4 platform. This popular indicator is available for free and can help traders make informed decisions by providing clear signals on three different timeframes. The indicator works by using a combination of three exponential moving averages to identify trends and potential market reversals. Traders can use this indicator by looking for crossovers between the moving averages on the different screens to confirm trends and make entry and exit decisions. The 3-Screen Elder Indicator is easy to use and can be a valuable tool for traders looking to improve their forex trading strategy.
MT4
Ekrana Eldera
3 Screen Elder Indicator is a popular and useful forex indicator for MT4. This free indicator helps traders analyze the market by using multiple timeframes to identify trends and potential entry points. By displaying information on three separate screens, traders can make informed decisions based on the signals provided. To use this indicator effectively, traders should familiarize themselves with the Elder Impulse System and Elder-Ray Index.
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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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