The SMI Custom Line Indicator is a useful tool for forex traders who use the MT4 platform. This popular indicator is free to download and can help traders make informed decisions when trading in the forex market. The SMI Custom Line Indicator works by plotting a custom line on the chart based on the Stochastic Momentum Index (SMI) indicator. This line can help traders identify potential trend reversals and entry and exit points. To use the indicator, simply download and install it on your MT4 platform. Once installed, you can customize the settings to suit your trading style. The indicator will then plot the custom line on the chart, making it easy for you to visually interpret the market trends. Overall, the SMI Custom Line Indicator is a valuable tool for forex traders looking to enhance their trading strategy.
MT4
Smi Custom Line
SMI Custom Line Indicator is a useful forex indicator for MT4 users. This popular and free indicator helps traders analyze market trends by displaying customized trend lines on their charts. Traders can use these lines to identify potential entry and exit points for their trades. Simply install the indicator on your platform and customize the trend lines to fit your trading strategy.
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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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