The Fibonacci-based Moving Averages Indicator is a popular and useful tool for Forex traders. It is a free indicator for MetaTrader 4 (MT4) that uses Fibonacci levels to identify potential support and resistance levels. The indicator plots two moving averages on the chart, one based on the Fibonacci levels of the last high and low, and the other on the Fibonacci levels of the last close. The indicator is designed to help traders identify when a trend is likely to reverse, and when a trend is likely to continue. The Fibonacci-based Moving Averages Indicator works by calculating the Fibonacci levels of the last high and low, and then plotting two moving averages on the chart. The first moving average is based on the Fibonacci levels of the last high and low, and the second is based on the Fibonacci levels of the last close. This allows the trader to identify possible support and resistance levels. If the price is above the moving averages, it is likely to continue in the same direction. If the price is below the moving averages, it is likely to reverse. The indicator can be used on any time frame, and can help traders identify potential trading opportunities.
MT4
Fibonacci Based Moving Averages
The Fibonacci Based Moving Averages (FBMA) indicator is a popular and free Forex indicator for MT4. The FBMA indicator is based on the Fibonacci sequence, which is a series of numbers that can be used to identify trends and determine entry and exit points. The indicator plots three lines on the chart, which represent the short-term, medium-term and long-term moving averages. The indicator is used to determine the trend and identify potential trading opportunities. It is a popular indicator among Forex traders due to its simplicity and accuracy.
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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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