The Candles Indicator is a popular and useful free Forex indicator for MT4. This indicator can help traders assess the current price action of a currency pair and identify potential trade opportunities. The Candles Indicator displays the opening and closing prices of the current candle, as well as the high and low prices. It also shows the current candle’s color, which can be used to identify the current trend. The Candles Indicator can be used to identify potential entry and exit points in the market. For example, if the current candle is green, it may indicate that the trend is bullish and that a long position should be taken. On the other hand, if the current candle is red, it may indicate that the trend is bearish and that a short position should be taken. Additionally, traders can use the Candles Indicator to identify potential support and resistance levels. If the current candle is unable to break through a certain price level, this could indicate that the price is likely to reverse. Additionally, it is free to download and use on the MT4 platform.
The Candles Forex Indicator is a popular and free indicator for the MetaTrader 4 (MT4) trading platform. This useful tool is designed to help forex traders better understand the trading environment by plotting the opening and closing prices of a given currency pair in the form of candlesticks. With this powerful and versatile indicator, traders can gain valuable insights into the forex market and make informed trading decisions.
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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.