The MACD Mirror indicator is a useful tool for forex traders who use the MT4 platform. It is a popular indicator that is widely used by traders to identify trend changes and potential buy or sell signals in the forex market. The best part is, this indicator is completely free to use. The MACD Mirror indicator works by plotting two moving averages, the MACD line, and the signal line on a chart. When the MACD line crosses above the signal line, it is considered a bullish signal, indicating a potential buy opportunity. On the other hand, when the MACD line crosses below the signal line, it is a bearish signal, suggesting a potential sell opportunity. Traders can use the MACD Mirror indicator to confirm trend changes, spot potential entry and exit points, and manage their trades more effectively. It is a valuable tool for both beginner and experienced forex traders.
MT4
MACD Mirror
MACD Mirror Indicator is a useful forex indicator for MT4 that is popular among traders. It is a free indicator that helps traders identify trend reversal points based on MACD divergence. By using this indicator, traders can easily spot potential entry and exit points in the market. Simply add the indicator to your chart and look for divergence signals to make informed trading decisions.
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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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