The Candlesticks Pattern Indicator is a powerful and popular free Forex indicator for the MT4 trading platform. It is designed to help traders identify various candlestick patterns that can indicate potential market reversals, price breakouts, and other important trading opportunities. This useful indicator can be used to identify patterns such as the Hammer, Doji, Morning Star, and Evening Star patterns. The Candlesticks Pattern Indicator is easy to use and understand. It works by analyzing the price action of a currency pair and then displaying the identified patterns on the chart. This indicator can be used in any time frame, from one minute to one month. It is also customizable, allowing traders to adjust the sensitivity of the indicator to suit their trading style. The Candlesticks Pattern Indicator is a great way to quickly identify potential trading opportunities and make more informed trading decisions.
The Candlesticks Pattern Indicator is a useful MT4 tool for Forex traders. The indicator works by scanning the market for different candlestick patterns, such as the Doji, Hammer and Shooting Star, and then displaying the patterns on the chart. With the Candlesticks Pattern Indicator, traders can quickly and easily identify potential trading opportunities, making it a valuable tool for anyone looking to make successful trades 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:
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.