The W Ichimoku Chikou Indicator is a useful and popular free Forex indicator for the MT4 platform. It is based on the Ichimoku Kinko Hyo system, which is a combination of several indicators and is used to identify trends and gauge momentum. The W Ichimoku Chikou Indicator is designed to help traders identify trading opportunities by combining the Ichimoku Kinko Hyo system with the Chikou Span, a lagging indicator. The W Ichimoku Chikou Indicator works by plotting the current price in relation to the past 26 periods. It then takes the midpoint of the highest high and the lowest low over the past 26 periods and plots it as the Kumo (cloud). The Chikou Span then plots the current closing price 26 periods behind the current price. The indicator also plots several lines, including the Senkou Span A and Senkou Span B, which are used to identify trends. This helps to give traders a better understanding of the market and can help them make more informed trading decisions.
MT4
W Ichimoku Chikou
The W Ichimoku Chikou Forex Indicator for MT4 is a popular and free indicator that is useful for forex traders. It helps traders to identify support and resistance levels, identify trends and spot potential trading opportunities. The W Ichimoku Chikou indicator is a great tool for forex traders, as it is both easy to use and understand, and provides useful information about the current market conditions.
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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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