The SMI Correct Forex Indicator is one of the most popular and useful indicators available for the MetaTrader 4 (MT4) trading platform. It is a free indicator that helps traders identify potential entry and exit points in the market. The indicator uses the Stochastic Momentum Index (SMI) to measure the momentum of the market. The SMI Correct Indicator is designed to be used in conjunction with other indicators, such as the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and the Average Directional Index (ADX). The SMI Correct Indicator works by analyzing the current momentum of the market and then using that momentum to identify potential entry and exit points. The indicator uses a combination of the SMI, RSI, MACD, and ADX to determine the strength of the current market trend. When the momentum is strong, the indicator will signal a potential entry point or exit point. If the momentum is weak, the indicator will signal that the market is not in a good position to enter or exit.
MT4
SMI Correct
The SMI Correct Forex Indicator is a popular and free MT4 tool that is useful for traders of all levels. This indicator works by calculating the Stochastic Momentum Index (SMI) of a given market and then displaying the result in the form of a histogram. It is a great tool for traders looking to improve their trading results and take their trading to the next level.
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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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