The Candle Body Size Indicator is a popular and useful tool for forex traders using the MT4 platform. This free indicator helps traders analyze the size of candle bodies on their charts, providing valuable insights into market sentiment and potential price movement. The indicator works by measuring the difference between the open and close prices of each candle, displaying this information visually on the chart. Traders can use this data to identify trends, confirm reversals, and make informed trading decisions. By understanding the relative size of candle bodies, users can better gauge the strength of price movements and anticipate potential breakouts or reversals. Overall, the Candle Body Size Indicator is a valuable resource for forex traders looking to enhance their technical analysis skills and improve their trading strategies.
MT4
Candle Body Size
The Candle Body Size Indicator is a useful forex indicator for MT4 that is popular among traders. It is a free tool that measures the size of candle bodies to help traders gauge market sentiment. By analyzing the size of candle bodies, traders can make informed decisions on their trading strategies. This indicator is easy to use and provides valuable insights for forex trading.
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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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