The Float Indicator is a popular, free and useful Forex indicator available for the MT4 trading platform. It is designed to provide traders with insights into the current market condition, allowing them to make informed decisions when placing trades. The Float Indicator works by using a combination of four different technical indicators to calculate the market condition. These indicators include the Relative Strength Index (RSI), the Moving Average Convergence Divergence (MACD), the Average Directional Index (ADX) and the Stochastic Oscillator. The Float Indicator then combines the values of these four indicators into a single value, giving traders an easy way to quickly assess the current market condition. The Float Indicator is especially useful for traders who are looking to make short-term trades. The indicator gives traders an insight into the current market momentum and can help them identify potential entry and exit points. The Float Indicator is easy to use and is available for free on the MT4 trading platform. It is a popular indicator among Forex traders due to its simplicity and accuracy. By using the Float Indicator, traders can gain valuable insights into the current market condition and make more informed trading decisions.
MT4
Float Indicator
The Float Indicator is a free and popular MT4 Forex indicator that is useful for traders of all levels. The indicator works by analyzing the volume of open positions for a currency pair and displaying the percentage of long and short positions. This information is useful for determining whether the market is in an uptrend or downtrend. With the Float Indicator, traders can easily identify the strength of the market and make informed trading decisions.
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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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