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Launcher Directional

The Launcher Directional Indicator is a popular and free Forex indicator for the MT4 trading platform. The indicator is based on a combination of several indicators, such as the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Moving Average of Oscillator (OsMA). It provides traders with an easy-to-read graphical representation of current market trends, making it easier to identify entry and exit points. With its simple yet powerful features, the Launcher Directional Indicator is an excellent tool for traders of all skill levels.

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Description

The Launcher Directional Indicator, a comprehensive technical analysis tool that empowers traders to navigate the markets with increased confidence and precision.

Features of the Launcher Directional Indicator

The Launcher Directional Indicator is a unique blend of two powerful indicators: the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI). By combining the momentum-based insights of the MACD with the overbought/oversold signals of the RSI, this indicator provides a multi-faceted analysis of the current market conditions.

One of the standout features of the Launcher Directional Indicator is its use of trend channel lines to frame the direction of the market. These lines not only help to identify the prevailing trend, but also serve as key support and resistance levels. Additionally, the indicator displays buy and sell entry signals with green and red dotted line, respectively, allowing you to quickly spot potential trading opportunities.

Furthermore, the outer (thicker) line of the channel is particularly noteworthy, as it represents the support and resistance zone. This is a crucial area where the price tends to change direction, making it an essential reference point for your trading decisions.

How the Launcher Directional Indicator Can Benefit You

By incorporating the Launcher Directional Indicator into your forex trading toolkit, you gain access to a powerful tool that can help you identify emerging trends, spot potential entry and exit points, and manage your risk more effectively.

Whether you’re a seasoned trader or a newcomer to the forex market, the Launcher Directional Indicator can provide you with valuable insights. Its user-friendly interface and intuitive visual cues make it accessible to traders of all skill levels, allowing you to adapt the tool to your unique trading style and goals.

Indicator Settings

Use close: This setting specifies whether the indicator should use the closing prices of the bars or some other price (e.g., open, high, low) to determine the distance between the lines and the bars.

Bars to count: This setting determines the maximum number of historical price bars that the indicator will consider when performing its trend analysis calculations.

Conclusion

The Launcher Directional Indicator is a comprehensive and versatile tool that can help forex traders navigate the dynamic market with increased confidence and precision. By combining the insights of the MACD and RSI, along with the valuable information provided by the trend channel lines, this indicator empowers you to make more informed trading decisions and potentially enhance your overall profitability. Download the Launcher Directional Indicator for MT4 today and unlock your full trading potential.

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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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