The Thick Wick forex indicator is a popular and useful tool for traders using the MT4 platform. This free indicator helps to identify key levels in the market by focusing on the size of the candle wicks. When a candle has a thick wick, it indicates strong price rejection at that level. Traders can use this information to make more informed trading decisions, such as setting stop loss and take profit levels more effectively. The indicator is easy to use and can be customized to suit individual trading preferences. It works on all timeframes and currency pairs, making it versatile for various trading strategies. Simply add the indicator to your MT4 platform and adjust the settings to your liking. Overall, the Thick Wick indicator is a valuable tool for forex traders looking to improve their trading performance by identifying key levels in the market.
MT4
Thick Wick
Thick Wick forex indicator is a popular and useful MT4 indicator that displays thick wicks on the candlesticks, indicating potential price reversals. It is a free tool that traders can use to identify key levels of support and resistance in the forex market. To use Thick Wick, simply install it on your MT4 platform and observe the candlestick chart for thick wick formations.
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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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