The Candlesticks Indicator is a useful and popular free Forex indicator that is available for the MT4 trading platform. It is a technical analysis tool that provides traders with an insight into the price movements of a currency pair. The indicator uses candlestick charts to provide traders with an understanding of the market sentiment and to identify potential trading opportunities. The Candlesticks Indicator displays the open, high, low, and close prices of a currency pair on a chart. The chart is composed of a series of candlesticks, which represent the price movements of a currency pair over a given time period. Each candlestick is composed of four parts: the open, high, low, and close. The open price is the first price of the currency pair at the start of the period, while the close price is the last price of the currency pair at the end of the period. The high and low prices are the highest and lowest prices of the currency pair during the period. The Candlesticks Indicator is easy to use and can be used by both experienced and novice traders. The indicator is free to use and can be used on any MT4 trading platform.
The Candlesticks Indicator is a useful and popular free Forex indicator for MT4. The indicator works by plotting a series of candlesticks on a chart, each representing a certain period of time. The candlesticks are then used to identify possible price reversals, as well as potential entry and exit points. Additionally, traders can use the indicator to identify potential price patterns, which can be used to make more profitable trades.
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Category: Price Action
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.