The Spread Paint Bar Indicator is a useful tool for forex traders using the MT4 platform. It is a popular and free indicator that provides valuable information about the spread on currency pairs in real-time. This indicator works by displaying the spread on the chart as color-coded bars. A green bar indicates a narrow spread, while a red bar indicates a wider spread. By visualizing the spread, traders can quickly assess the liquidity and trading conditions of a particular currency pair. To use the Spread Paint Bar Indicator, traders simply need to download and install it on their MT4 platform. The indicator will then automatically display the spread on the chart for each currency pair. Traders can adjust the settings of the indicator to customize the display according to their preferences. Overall, the Spread Paint Bar Indicator is a handy tool for forex traders as it allows them to make more informed trading decisions based on the spread. With its user-friendly interface and real-time spread updates, this indicator is highly recommended for traders of all experience levels.
MT4
Spread Paint Bar
Spread Paint Bar Indicator is a popular and useful forex indicator for MT4. It is a free tool that visually displays the spread between two currency pairs. This indicator allows traders to quickly identify and analyze spread patterns, helping them make informed trading decisions. With its user-friendly interface, traders can easily interpret the data provided by this indicator, making it an essential tool in the forex market.
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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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