The SMI Correct Indicator is a popular and useful forex indicator for the MT4 platform. It is a free indicator that helps traders identify overbought or oversold conditions in the market. The indicator uses a unique algorithm to calculate the momentum of the price movement, making it a valuable tool for both novice and experienced traders. When the SMI Correct Indicator is above the zero line, it indicates that the market is overbought, and when it is below the zero line, it indicates that the market is oversold. Traders can use these signals to make informed decisions about when to enter or exit trades. To use the SMI Correct Indicator, simply add it to your MT4 platform and customize the settings to your liking. It is a versatile and easy-to-use tool that can help improve your trading strategy.
MT4
Smi Correct
SMI Correct Indicator is a popular and useful forex indicator for MT4. It is a free indicator that helps traders identify overbought and oversold conditions in the market. By analyzing price movements, traders can make more informed trading decisions. To use the indicator, simply add it to your chart and watch for the color changes to signal potential trading opportunities.
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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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