The RSI Candles MTF indicator for MT5 is a popular and useful tool for forex traders. This free indicator combines two powerful technical analysis tools, the Relative Strength Index (RSI) and candlestick patterns, to help traders make informed decisions. The indicator works by plotting RSI values directly on the candles, giving traders a visual representation of both RSI levels and candlestick patterns. This allows traders to easily identify overbought or oversold conditions, as well as potential trend reversals. To use the RSI Candles MTF indicator, simply add it to your MT5 chart and adjust the settings to your preference. Traders can customize the indicator’s colors, timeframes, and RSI period to suit their trading style. By incorporating this indicator into their analysis, traders can enhance their trading strategies and make more informed trading decisions.
MT5
RSI Candles
RSI Candles MTF Indicator for MT5 is a useful forex indicator that is popular among traders. It is free to use and provides multiple time frame analysis of RSI levels. This indicator works by overlaying RSI levels on candlesticks, allowing traders to quickly identify overbought or oversold conditions. Simply add the indicator to your chart and adjust the settings to suit your trading style.
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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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