The Trend Continuation Factor Indicator is a useful tool for forex traders using the popular MT4 platform. This free indicator helps traders identify and confirm trends in the market, allowing them to make informed decisions on when to enter or exit trades. The indicator works by analyzing price action and identifying momentum in a trend. It then generates signals to confirm the trend continuation, helping traders avoid false breakouts or reversals. To use the Trend Continuation Factor Indicator, simply add it to your MT4 chart and look for buy or sell signals based on the direction of the trend. Traders can also use the indicator to set stop-loss and take-profit levels to maximize their profits and minimize risks. Overall, this forex indicator is a powerful tool for traders looking to capitalize on trend continuations in the market.
MT4
Trend Continuation Factor
The Trend Continuation Factor Indicator is a free and popular forex indicator for MT4 that is useful for identifying trends in the market. It works by analyzing price action to determine if a trend is likely to continue or reverse. Traders can use this indicator to make informed decisions on when to enter or exit trades based on the strength of the trend.
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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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