The Forbi Momentum Indicator is a useful and popular free Forex indicator for the MetaTrader 4 (MT4) trading platform. It is designed to help traders identify the momentum of a currency pair or other asset by displaying the current and average momentum on the chart. The indicator works by using the current price to calculate the momentum and then compares it to the average momentum over a specified period of time. The Forbi Momentum Indicator can be used to identify potential entry and exit points in the market. The indicator can be used to identify when the momentum is increasing or decreasing, allowing traders to make informed decisions. It can also be used to identify potential support and resistance levels in the market. The indicator is easy to use and can be quickly set up on the MT4 platform. It is a popular tool among Forex traders and can be a valuable addition to any trading strategy.
The Forbi Momentum Indicator is a useful and popular free Forex indicator for the MetaTrader 4 (MT4) trading platform. The indicator works by using the current price to calculate the momentum and then compares it to the average momentum over a specified period of time. It is a popular tool among Forex traders and can be a valuable addition to any trading strategy.
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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.