The Money Meter Indicator is a popular and free Forex indicator for the MT4 platform. This useful tool helps traders to quickly assess the overall strength of the currency market and make informed trading decisions. It is designed to measure the relative strength of different currencies against each other, allowing traders to identify the most profitable opportunities in the market. The Money Meter Indicator works by calculating the relative strength of each currency pair over a specified period of time. It then displays the overall strength of each currency pair in a visual format, allowing traders to quickly identify the most profitable opportunities in the market. It also provides the trader with an easy-to-read visual representation of the strength of each currency pair, making it simple to identify potential trading opportunities. The Money Meter Indicator is ideal for traders who want to quickly identify profitable opportunities in the Forex market. It is easy to use and provides traders with a comprehensive overview of the strength of each currency pair. It is also free of charge, making it a great tool for traders who are just starting out in the Forex market.
MT4
Money Meter
The Money Meter Indicator is a free and popular Forex indicator for MT4. The indicator is easy to use and provides a visual representation of the trader’s money management. It shows the amount of money invested in each trade, the risk per trade and the overall risk of the portfolio. The indicator also shows the average win rate, average loss rate, and maximum drawdown. With this information, traders can adjust their money management strategy to ensure that they are taking the right amount of risk and maximizing their profits.
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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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