The RSI Ranked Indicator is a popular and useful tool for forex traders. Designed specifically for MT4, this free indicator helps traders analyze market trends and make informed decisions. The RSI (Relative Strength Index) is a widely used technical indicator that measures the strength and speed of price movements in a market. The RSI Ranked Indicator takes this powerful tool a step further by ranking the strength of the RSI values on a scale of 1 to 100. This ranking system provides traders with a clearer understanding of the market’s momentum, allowing them to identify potential entry and exit points with greater accuracy. To use the RSI Ranked Indicator, traders simply need to attach it to their MT4 chart. The indicator will then display the RSI values along with their respective rankings. Traders can customize the settings, such as the period length, to suit their trading style and preferences. By visually observing the RSI rankings, traders can gain valuable insights into the market’s strength and weakness, enabling them to make more informed trading decisions.
MT4
RSI Ranked
RSI Ranked is a popular and useful MT4 forex indicator that is available for free. With its detailed, data-driven approach, it analyzes the market to determine the strength and weakness of a currency pair. RSI Ranked provides forex traders with valuable insights and helps them make informed trading decisions. By understanding how this indicator works and using it effectively, traders can enhance their trading strategies and optimize their forex trading experience.
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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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