The Color RSI with Alert Indicator is a popular and free Forex indicator for the MT4 trading platform. It is useful for traders who want to easily identify the RSI levels and receive an alert when the RSI reaches an upper or lower level. The Color RSI with Alert indicator is easy to use and set up. It can be configured to display the RSI in any color, as well as the alert levels. The indicator also has the ability to display the RSI in a histogram or line format, making it easy to analyze the data. The Color RSI with Alert indicator is useful for traders looking to identify overbought and oversold conditions in the market. It can also be used to identify potential trend reversals. When the RSI reaches an upper or lower level, the trader can receive an alert, allowing them to take action quickly. The indicator is also useful for identifying support and resistance levels. When the RSI reaches an alert level, traders can use this as a signal to enter or exit a trade.
Color Rsi With Alert
The Color RSI with Alert Indicator for MT4 is a useful and popular free Forex indicator.The indicator works by plotting an RSI line on a chart and coloring it green when the RSI is overbought, and red when it is oversold. It also provides an alert when the RSI reaches the overbought or oversold levels, so traders can take action. It is a great tool for both beginner and experienced traders alike. With its help, traders can easily identify potential trading opportunities and take advantage of them.
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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.