The RSI Dots Indicator is a popular and useful forex indicator for MT4 that helps traders identify potential trend reversals. This indicator displays red and blue dots on the chart based on the RSI (Relative Strength Index) crossing certain levels, making it easier for traders to spot potential entry and exit points. The RSI Dots Indicator is free to download and use, making it a valuable tool for traders looking to improve their trading strategies. Traders can customize the indicator settings to suit their trading style and preferences, making it a versatile tool for both beginners and experienced traders. To use the RSI Dots Indicator effectively, traders should look for buy signals when the dots turn blue and sell signals when the dots turn red. By incorporating this indicator into their trading system, traders can increase their chances of making profitable trades in the forex market.
MT4
Rsi Dots
The RSI Dots Indicator is a popular and useful forex indicator that is available for free on the MT4 platform. This indicator plots dots on the RSI indicator to help traders identify potential trend reversals. Traders can use this indicator alongside other technical analysis tools to make 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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