The “I Day of Week” indicator is a useful forex tool for MT4 traders looking to analyze price movements based on the day of the week. This popular indicator is available for free and can help traders identify trends and patterns that occur on specific days of the week. The indicator works by displaying a color-coded histogram that represents the number of times a certain price movement has occurred on each day of the week. Traders can use this information to make more informed trading decisions and capitalize on potential opportunities. To use the “I Day of Week” indicator, simply install it on your MT4 platform and adjust the settings to suit your trading preferences. By incorporating this indicator into your analysis, you can enhance your trading strategy and improve your overall performance in the forex market.
MT4
I Day Of Week
The I-Day of Week Indicator for Forex is a useful and popular MT4 indicator that is free to use. It shows the day of the week on the chart, helping traders to better understand market trends and patterns based on the day of the week. Simply add the indicator to your chart to start utilizing its benefits in your trading strategy.
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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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