The Candle Direction Indicator is a useful and popular free Forex trading indicator for MT4. It is designed to help traders identify the direction of the trend in the market and take advantage of potential trading opportunities. The indicator works by analyzing the price action of a currency pair and displaying the direction of the trend in a graphical format. The Candle Direction Indicator is easy to use and requires no prior knowledge of trading. It displays the trend direction on a chart in the form of arrows. Green arrows indicate an uptrend and red arrows indicate a downtrend. This allows traders to easily identify the direction of the trend and make informed trading decisions. The indicator also displays the strength of the trend, which is indicated by the length of the arrows. Longer arrows indicate a stronger trend, while shorter arrows indicate a weaker trend. This allows traders to identify the strength of the trend and adjust their trading strategy accordingly. With the help of this indicator, traders can make informed decisions and maximize their profits.
MT4
Candle Direction
The Candle Direction Indicator is a popular and free forex indicator for the MT4 trading platform. It is a useful tool for traders who are looking to identify the direction of the price trend in the forex market. The indicator uses the candlestick pattern to generate buy and sell signals, helping traders make more informed decisions. It is a great way to identify potential trading opportunities and maximize profits.
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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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