The Polarized Fractal Efficiency (PFE) is a useful forex indicator that is compatible with the popular MT4 platform. This indicator is known for its effectiveness in evaluating the efficiency of price movements in the forex market. It is commonly used by traders to identify trends and potential entry and exit points for their trades. The PFE indicator calculates the efficiency of price movements by comparing the current price to the average true range over a specified period. When the indicator is plotted on a chart, it generates a line that fluctuates above and below a middle point of 1.0, indicating whether the price movements are trending efficiently or not. Traders can use the PFE indicator to confirm trends, filter out false signals, and make more informed trading decisions. Plus, it’s a free indicator, making it accessible to all forex traders using the MT4 platform.
MT4
Polarized Fractal Efficiency PFE
Polarized Fractal Efficiency (PFE) is a popular and useful forex indicator available for free on MT4. This indicator calculates the efficiency of price movements over a specified period of time, helping traders identify trends and make informed decisions. By analyzing the fractal nature of price movements, PFE can assist traders in determining entry and exit points with greater accuracy.
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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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