The Fractal Self-Similarity Indicator is a useful and popular free Forex indicator for the MT4 trading platform. It is one of the most reliable indicators for identifying and trading price reversals. This indicator works by detecting fractal patterns in the price action of the market. These patterns are created when the price action of the market creates a series of higher highs and higher lows. This indicator then uses this information to identify potential entry and exit points for traders. The indicator works by plotting a line on the chart that represents the fractal self-similarity of the price action. This line is then used to identify potential entry and exit points for trades. The indicator also plots a series of arrows that indicate when the price action is likely to reverse. These arrows can be used to enter and exit trades, and they can also be used to identify potential areas of support and resistance. The Fractal Self-Similarity Indicator is a great tool for traders who want to identify potential price reversals and take advantage of them. This indicator is easy to use and can be used to identify potential entry and exit points for trades. It is also a great tool for traders who want to identify potential areas of support and resistance. This indicator is free and can be used on the MT4 trading platform.
MT4
Fractal Self Similarity
The Fractal Self-Similarity Indicator is a useful and popular free Forex indicator for MT4 platforms. This indicator works by analyzing the price action of a currency pair over a period of time and then plotting the fractal patterns that emerge. This indicator is easy to use and can be a great tool for traders looking to gain an edge in the Forex market.
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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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