The MAMA Indicator is a popular and useful tool for Forex traders who use the MT4 platform. It is a free indicator that was developed by John Ehlers and is used to identify the momentum of a currency pair. The indicator works by measuring the difference between two moving averages. It then uses a smoothing technique to identify the momentum of the pair. The MAMA Indicator is designed to be used in conjunction with other indicators and charting tools. It can be used to identify trend reversals, support and resistance levels, and other important market signals. It is also useful for identifying entry and exit points. Traders can use the indicator to spot potential entry and exit points based on the momentum of the pair. The indicator is easy to use and understand. It is also highly customizable, allowing traders to adjust the settings to suit their trading style. The indicator is also highly accurate, making it a popular choice for many traders.
MT4
MAMA Indicator
The MAMA Indicator is a popular and free Forex indicator for the MT4 platform. It is a useful tool for traders who want to analyze the price action of a currency pair. It is based on the Moving Average Convergence Divergence (MACD) indicator and uses two different smoothing techniques to measure the momentum of a currency pair. It is also a great tool for traders who are looking to gain an edge in the Forex market.
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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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