The Bears Indicator is a free and popular Forex indicator for MT4 trading platforms. It is a useful tool for traders looking to identify bearish market conditions and is suitable for both short-term and long-term traders. The Bears Indicator is based on the Relative Strength Index (RSI) and uses the RSI to measure the strength of the current trend. It looks for a high RSI reading to indicate a strong bearish trend. When the RSI reaches a certain level, the indicator will generate a signal that the market is in a bearish trend. The indicator also includes an alert system to notify traders when the RSI reaches the set level. The Bears Indicator is a useful tool for traders looking to identify bearish market conditions and is suitable for both short-term and long-term traders. It is easy to use and can be used to identify potential trading opportunities in bearish markets. The indicator is free and popular among Forex traders and is a great tool for traders looking to take advantage of bearish market conditions.
MT4
Bears Indicator
The Bears Indicator is a popular and free Forex indicator for the MT4 trading platform. It works by analyzing various factors such as price action, market sentiment, and volatility. It then generates an indicator signal that is displayed on the chart. With the Bears Indicator, traders can make informed decisions and take advantage of bearish market conditions.
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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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