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Home Collection Signal Candle Body Size indicator
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Candle Body Size indicator

The Candle Body Size forex indicator is a useful tool for MT4 traders looking to analyze candlestick patterns. This popular indicator is free to download and easy to use. It calculates the size of the candle body to help traders make informed decisions. Simply add the indicator to your trading chart and start monitoring candle body sizes to improve your forex trading strategy.

Indicator Type

Entry Exit

Trading Style

Scalping

,

Short-term

Timeframe

H1-H4

,

M15-M30

Platform

MT4

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Description

The Candle Body Size indicator is an extremely useful tool for forex traders utilizing the MT4 platform. This popular indicator is free to use and provides valuable insights into market movements based on the size of candle bodies. The indicator works by measuring the average size of candle bodies over a specified period of time, highlighting potential changes in market sentiment and trends. Traders can use this information to make informed decisions on when to enter or exit trades, based on the strength and direction of price movements. To use the Candle Body Size indicator, simply add it to your MT4 platform and customize the settings to suit your trading strategy. By paying attention to changes in the size of candle bodies, traders can improve their overall profitability and make better-informed trading decisions in the forex market.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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