The Price Position Indicator is a popular free Forex indicator for MT4 that is useful for traders of all levels. It helps to identify the current market trend and the direction of the trend. It also shows the strength of the trend and the likely direction of the price. The indicator is based on the Moving Average Convergence/Divergence (MACD) and Relative Strength Index (RSI) indicators and uses these to generate signals. The Price Position Indicator is easy to use and can be used on any time frame. It displays a line on the chart that shows the current price position in relation to the trend. If the line is above the trend, it indicates that the price is in an uptrend. If the line is below the trend, it indicates that the price is in a downtrend. The indicator also shows the strength of the trend and the likely direction of the price. The Price Position Indicator is a great tool for traders of all levels. It helps to identify the current market trend and the direction of the trend. It also shows the strength of the trend and the likely direction of the price.
MT4
Price Position
The Price Position Indicator is a useful and popular free Forex indicator for MetaTrader 4 (MT4). It helps traders to identify the entry and exit points of their trades, allowing them to maximize their profits. The indicator works by displaying the price movements of a currency pair in a graphical format. It shows the current price level relative to the previous price level and the current trend of the currency pair. It is an ideal tool for both novice and experienced traders, and can be used to identify potential trading opportunities 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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