The SM CCI (Commodity Channel Index) indicator is a popular and useful forex indicator that is available for free on the MT4 platform. It is designed to help traders identify overbought or oversold conditions in the market, as well as potential trend reversals. The SM CCI indicator works by calculating the difference between the current price and its moving average, and then normalizing it by the mean absolute deviation. This calculation results in a reading that oscillates around zero, with readings above +100 indicating overbought conditions and readings below -100 indicating oversold conditions. Traders can use the SM CCI indicator to enter or exit trades based on these overbought or oversold conditions, as well as to confirm trend strength. By incorporating this indicator into their trading strategy, traders can make more informed decisions and potentially increase their chances of success in the forex market.
MT4
SM CCI
The SM CCI indicator is a popular and useful forex indicator available for free on MT4. It works by measuring the strength of price trends and identifying potential reversal points. Traders can use this indicator to make informed decisions on when to enter or exit trades. Overall, the SM CCI indicator is a valuable tool for forex traders looking to improve their trading strategies.
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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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