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Key Reversal

The Key Reversal MT5 Indicator is the best Forex indicator for trend reversal. It is a great tool for any trader looking to take advantage of potential reversals in the market.

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Description

The Key Reversal MT5 Indicator is an indicator that identifies potential trend reversal in the market using the bullish and bearish key reversal price patterns. A bullish key reversal pattern is formed when a bullish bar closes above the highs of the preceding two bearish bars. Conversely, a bearish key reversal pattern is when a bearish candlestick closes lower than the low of two preceding bullish candlesticks.

Therefore, the indicator provides traders with excellent trend-reversal zones to buy and sell in the financial markets. This price action trading indicator works on different financial instruments and is suitable for scalpers and day traders.

Features of the Key Reversal MT5 Indicator

The indicator analyzes the market for key reversal patterns and paints blue and red signal arrows, depicting bullish and bearish reversals, which double as buy or sell entry signals. Besides, the indicator has alerts and notification features to inform traders of reversal signals, enabling timely decision-making.

Furthermore, the indicator’s parameters are customizable, allowing traders to adjust the parameter settings to suit their trading preferences.

Benefits of Using the Indicator

  • Early Identification of Reversal Zones: The indicator spots potential trend reversal zones early, which enables Forex traders to catch the beginning of an emerging trend.
  • Confirmation Tool: Traders can use the indicator as a confluence with price action/other technical indicators to confirm potential trend reversals, enhancing trading efficiency.
  • Risk Management: The indicator can be a valuable trading asset to implement risk management, such as setting stop-loss and take-profit orders.

Indicator Settings Description

The indicator comes with the following customizable settings:

Trend detection period: Determines the number of bars preceding the third candlestick.

Use trend detection filter: Enables/Disables trend analysis using key reversal patterns.

Show alerts: Enables/Disables the display of alerts on the chart.

Send mails: Enables/Disables signal alerts via emails.

Send push notification: Enables/Disables signal alerts via push notification.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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