The RSI Improved Indicator is a popular and free Forex indicator for the MetaTrader 4 (MT4) platform. This useful indicator helps traders analyze the price movements and identify potential trading opportunities. The RSI Improved Indicator is based on the Relative Strength Index (RSI) and uses a smoothed RSI line to determine the trend strength. The indicator also has a built-in alert system to notify traders when a new signal appears. The RSI Improved Indicator is easy to use and can be used by both beginner and experienced traders. To use the indicator, you simply need to attach it to the chart and select the desired parameters. The indicator is highly customizable, allowing you to adjust the period, the number of bars used to calculate the RSI, and the overbought and oversold levels. The indicator is easy to use and highly customizable, making it a popular choice among Forex traders.
The RSI Improved Indicator is a popular and free Forex indicator for MT4 trading platforms. It works by comparing the current RSI value to the previous RSI values over a specified period of time. By using this indicator, traders can easily identify potential buying and selling opportunities in the markets.
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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.