The Derivative Oscillator Indicator is a popular and useful technical analysis tool used in Forex trading. It is a free indicator available for the MT4 trading platform. The Derivative Oscillator Indicator is designed to identify potential trend reversals and provide traders with an easy-to-use visual representation of the current trend strength. The Derivative Oscillator Indicator is made up of two components: the MACD line and the trigger line. The MACD line is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The trigger line is calculated by taking the 9-period EMA of the MACD line. The Derivative Oscillator Indicator then plots the MACD line and the trigger line on a chart. When the MACD line crosses above the trigger line, it is a signal that the trend is reversing and a buy signal is generated. Conversely, when the MACD line crosses below the trigger line, it is a signal that the trend is reversing and a sell signal is generated. The Derivative Oscillator Indicator also provides traders with an easy-to-interpret visual representation of the trend strength. The Derivative Oscillator Indicator is a powerful and useful tool for traders looking to identify potential trend reversals and gauge the strength of the current trend. It is a free indicator available for the MT4 trading platform and is easy to use and interpret.
The Derivative Oscillator indicator is a useful tool for Forex traders. It is a popular and free indicator available for the MT4 platform. It works by measuring the rate of change of the price of a currency pair and displaying the result in the form of a histogram. When the positive line is above the negative line, it indicates a bullish trend and when the negative line is above the positive line, it indicates a bearish trend. The Derivative Oscillator indicator is a powerful tool for traders as it helps them to identify trends and momentum in the market, which can help them make better trading decisions.
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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.