The Candlestick Hammer and Shooting Star Signal MT4 forex indicator is a popular and free tool used by many traders. It is a useful indicator for spotting potential reversal patterns in the forex market. The indicator displays hammer and shooting star candlestick patterns on the chart, which can help traders identify potential trend reversals. The Candlestick Hammer and Shooting Star Signal MT4 indicator is easy to use. It automatically displays hammer and shooting star candlestick patterns on the chart. When a hammer or shooting star candlestick pattern appears, it indicates that the current trend may be reversing. Traders can then take advantage of this information to enter into new trades or adjust their existing positions. With its customizable alert system, traders can stay informed of potential reversal patterns and take action accordingly.
MT4
Candlestick Hammer
The Hammer and Shooting Star Forex indicator is a popular and useful tool for MT4 traders. It works by identifying candlestick formations that indicate that the market is reversing direction. It is a great tool for traders of all levels to use to gain an edge in the market.
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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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