The Chaikin Oscillator is a popular and free forex indicator that is useful for traders in the foreign exchange market. Developed by Marc Chaikin, the Chaikin Oscillator is a momentum indicator that measures the accumulation and distribution of a security’s price. It is a technical analysis tool that helps traders to identify potential buying and selling opportunities. The Chaikin Oscillator is calculated by subtracting the 10-day exponential moving average of the Accumulation/Distribution Line from a 3-day exponential moving average of the Accumulation/Distribution Line. The Accumulation/Distribution Line is a momentum indicator that measures the cumulative flow of money into and out of a security. It is calculated by adding the volume on up days and subtracting the volume on down days. The Chaikin Oscillator is typically used to identify divergences between the price of a security and the volume of money flowing into and out of that security. When the Chaikin Oscillator is positive, it indicates that money is flowing into the security and the price is likely to rise. When the Chaikin Oscillator is negative, it indicates that money is flowing out of the security and the price is likely to fall. The Chaikin Oscillator is available as a free indicator for the MetaTrader 4 (MT4) trading platform. It can be used to identify potential buying and selling opportunities and to confirm price movements.
The Chaikin Oscillator is a popular and free Forex indicator used by traders to identify potential trading opportunities. Developed by Marc Chaikin, it is a momentum oscillator that measures the accumulation and distribution of a currency pair. The oscillator moves between positive and negative values, and a crossover of the zero line can be used to generate buy and sell signals. The Chaikin Oscillator is available on most MT4 platforms and is a popular choice among traders.
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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.