The MACD Trend Catcher Indicator is a popular and useful tool for forex traders using the MT4 platform. This indicator is free to download and can be easily added to your trading setup. The MACD Trend Catcher Indicator works by identifying trend shifts in the market based on the Moving Average Convergence Divergence (MACD) indicator. When the MACD line crosses above the signal line, it indicates a bullish trend, while a cross below signifies a bearish trend. Traders can use the MACD Trend Catcher Indicator to confirm trade entries and exits, as well as to spot potential reversal points in the market. By utilizing this indicator, traders can improve their decision-making process and increase their chances of trading success in the forex market.
MT4
Macd Trend Catcher
MACD Trend Catcher indicator is a useful forex indicator for MT4 users. It is a popular and free tool that helps traders identify trend direction and potential entry points. The indicator works by analyzing the Moving Average Convergence Divergence (MACD) line to determine market momentum. Traders can use it to make informed trading decisions based on trend signals provided by the indicator.
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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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