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Lucky Reversal

The Lucky Reversal indicator for MT5 is a beginner-friendly indicator that detects trend reversal and displays buy and sell entries. It is a great tool for traders who want to make the most out of their trading strategies.

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Description

The Lucky Reversal indicator for MT5 is a trend-following tool that detects potential reversal zones in the financial markets. The indicator helps traders identify optimal zones for short and long-term trading opportunities.

How Do You Use the Lucky Reversal Indicator?

The Lucky Reversal Indicator for MT5 is a beginner-friendly tool that identifies potential trend reversal zones and displays buy and sell signal entries. It displays a blue signal arrow, which suggests an optimal zone for a buy entry. Conversely, the indicator paints a red signal arrow that depicts a sell entry.

However, traders should note that using the indicator with price action or other technical trading tools is recommended to improve efficiency.

Features of the Lucky Reversal Indicator for MT5

The indicator is a multi-timeframe tool that uses trend-following algorithms to detect bullish and bearish trend reversal zones. It identifies and highlights a potential bullish reversal zone in wavy horizontal lines of dodger blue. On the other hand, the indicator signals a potential bearish reversal with a Violet-red wavy horizontal bar.

Further, as noted above, the indicator displays buy and sell signals using blue and red arrows, respectively.

Benefits of Using the Indicator

  • Early Detection of Trend Reversal: The indicator signals Forex traders of an optimal zone for trend reversal, even before the market changes direction. This enables traders to take advantage of early price movement when the market reverses.
  • Confirmation Tool: The Lucky Reversal Indicator for MT5 can be used as a confluence to confirm the trend reversal zone, buy, sell, or exit a trade position. For instance, a trader might anticipate a high-probability bullish trend reversal and a potential buy signal if the indicator’s signals appear at a support zone of past price action.
  • Time-Saving: The indicator makes technical analysis less hassle, which makes it suitable for begrimes and advanced Forex traders.

Indicator Settings Description

The indicator comes with the following customizable settings:

SRZZ: Determines the sensitivity of the indicator to trend reversal zones of the price.

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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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