The Price Volume Divergence Indicator for MT5 is a highly useful tool for forex traders looking to identify potential trend reversals early on. This popular indicator is available for free and works by analyzing the relationship between price movements and trading volume. When there is a divergence between price action and volume, it can signal a weakening trend and a possible reversal in the near future. Traders can use this information to make more informed trading decisions and potentially increase their profits. To use the Price Volume Divergence Indicator, simply add it to your MT5 platform and look for divergences between price and volume on your charts. This indicator can help you spot potential entry and exit points, as well as confirm the strength of a current trend. Overall, it is a valuable tool for any forex trader looking to improve their trading strategy.
MT5
Price Volume Divergence
The Price Volume Divergence Indicator for MT5 is a popular and useful forex indicator that is available for free. It works by analyzing price movements and volume trends to identify potential divergence patterns. Traders can use this indicator to spot possible trend reversals or continuation opportunities in the market. By incorporating this tool into their trading strategy, traders can make more informed 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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