The Pirson Indicator is a popular and free Forex indicator for MT4 that is useful for traders who want to identify trends in the market. This indicator uses a combination of two lines, the Pirson line and the signal line, to provide a clear visual representation of the current market trend. The Pirson line is calculated using the price action of the last three candles and the signal line is calculated using the average of the last three candles. The indicator will then generate a signal when the Pirson line crosses the signal line. This signal will indicate the direction of the trend and can be used to make trading decisions. The indicator is easy to use and can be used to identify both short-term and long-term trends. It is also popular among traders because it is free and can be used with any MT4 platform.
MT4
Pirson Indicator
The Pirson Forex indicator is a useful tool for MT4 traders as it helps them to identify trends in the market. The Pirson indicator works by measuring the distance between two points on a chart, which then helps to identify the trend of the market. By using the Pirson indicator, traders can gain a better understanding of the market and make more 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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