The Weis Wave Indicator is a popular and free Forex indicator for MT4. It is useful for traders looking for a way to identify short-term market trends and momentum. The indicator is based on the work of David Weis, a technical analyst who developed the Weis Wave theory. The Weis Wave Indicator takes the volume data from a given period and plots it on the chart, allowing traders to easily identify the waves of buying and selling pressure. The Weis Wave Indicator is easy to use and can be quickly added to any MT4 chart. It can be used to spot divergences between the volume and price movements, as well as to identify market turning points. The Weis Wave Indicator can also be used to identify market momentum and to confirm entry and exit points. With the Weis Wave Indicator, traders can easily identify the waves of buying and selling pressure, and spot divergences between the volume and price movements.
WeisWave
The Weis Wave Indicator is a popular and free Forex indicator for MT4 that is useful for traders of all levels. The indicator is designed to help identify the direction of a trend and its strength. It also helps traders identify potential reversals in the market. The Weis Wave Indicator is a great tool for any trader looking to increase their trading success.
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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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