The Second Chart Indicator is a useful forex indicator that is popular among MT4 users for its effectiveness in analyzing market trends. It is a free tool that provides traders with valuable insights into price movements, helping them make informed trading decisions. This indicator works by displaying a second chart within the main chart window, allowing traders to compare different timeframes simultaneously. This feature is especially useful for identifying potential entry and exit points, as well as determining the overall market direction. Users can customize the settings of the Second Chart Indicator to suit their trading strategy, making it a versatile tool for both beginner and experienced traders. To use the Second Chart Indicator, simply download and install it on your MT4 platform. Once activated, you can start analyzing price action and spotting trading opportunities with ease.
MT4
Second Chart
Second Chart Indicator is a popular and useful free forex indicator for MT4. It works by displaying a second chart within the main chart window, making it easier to compare multiple timeframes at once. Traders can use this tool to identify trends, support and resistance levels, and potential entry and exit points. Its user-friendly interface makes it simple to use for both beginner and experienced traders.
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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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