The Flat Trend Momentum (MOM) Indicator is a popular and free Forex indicator for the MetaTrader 4 (MT4) trading platform. It is a useful tool for traders who want to identify trend direction and determine potential entry and exit points. The Flat Trend Momentum indicator is designed with a simple yet effective algorithm to measure the momentum of a price trend. It uses two lines, one representing the positive momentum and the other representing the negative momentum. The lines are calculated using a combination of price data and a smoothing factor, which helps to filter out short-term price noise. When the positive momentum line crosses above the negative momentum line, it indicates that the trend is likely to continue in the same direction. Conversely, when the negative momentum line crosses above the positive line, it suggests that the trend may be reversing. The Flat Trend Momentum indicator can be used to identify both short-term and long-term trends. It is also useful for spotting potential entry and exit points in the market. For example, when the positive momentum line crosses above the negative line, it may be a good time to enter a long position. Conversely, when the negative momentum line crosses above the positive line, it may be a good time to exit a long position.
MT4
Flat Trend Mom
The Flat Trend MOM Indicator is a useful and popular Forex indicator for MetaTrader 4 (MT4) trading platforms. This free indicator helps traders identify trend direction and potential reversals in the market. It is composed of two moving averages (MOM) which are used to identify the trend direction and momentum. The Flat Trend MOM Indicator is a simple yet powerful tool that can help traders make informed decisions and maximize their profits.
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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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