The Welch Candlesticks Indicator is a useful and popular free Forex indicator for MT4. This indicator uses a unique candlestick-based algorithm to identify potential trading opportunities in the Forex market. It is designed to provide traders with an easy to use and intuitive way to identify potential entry and exit points in the market. The Welch Candlesticks Indicator works by analyzing the price action of a currency pair over a set period of time. It looks for patterns in the price action that indicate potential trading opportunities. When a pattern is identified, the indicator will generate an alert, allowing the trader to take advantage of the opportunity. It is easy to use, intuitive, and free to download for MT4. With its ability to identify potential trading opportunities, it is a popular choice among Forex traders.
MT4
Welch Candlesticks
The Welch Candlesticks Indicator is a free and popular Forex indicator for the MT4 trading platform. The indicator plots candlestick patterns on the chart and provides an easy-to-read visual representation of the trend. It is a popular and free indicator for the MT4 trading platform, and can be a useful tool for traders of all levels.
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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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