The Stochastic Color Classic Indicator is a free and popular Forex indicator that is available for the MT4 platform. This indicator is useful for traders who want to track the market sentiment and identify potential trading opportunities. The indicator is based on the Stochastic oscillator, which is a momentum indicator that compares the closing price of a currency pair to its price range over a given period of time. The Stochastic Color Classic Indicator displays a color-coded indicator line that changes from green to red, depending on the direction of the market. When the line is green, it indicates that the market is in an uptrend, while a red line indicates that the market is in a downtrend. The indicator also provides traders with buy and sell signals, which are generated when the indicator crosses above or below a certain level. The Stochastic Color Classic Indicator is a useful tool for traders who want to quickly identify potential trading opportunities and make informed decisions.
MT4
Stochastic Color Classic
The Stochastic Color Classic Indicator is a free and popular Forex indicator that is available for the MT4 platform. This indicator is useful for traders who want to track the market sentiment and identify potential trading opportunities. The Stochastic Color Classic Indicator displays a color-coded indicator line that changes from green to red, depending on the direction of the 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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