The detection divergences indicator is a useful tool for forex traders using the popular MT4 platform. This indicator is free to download and can help traders identify potential trend reversals by detecting divergences between the price action and an oscillating indicator, such as the RSI or MACD. When the price of an asset is moving in one direction, but the indicator is moving in the opposite direction, it signals a divergence and a possible trend reversal. Traders can use this information to make more informed trading decisions and potentially increase their profits. To use the detection divergences indicator, simply add it to your MT4 platform and apply it to your chart. Look for divergence signals and use them to help guide your trading strategy. This indicator can be a valuable tool for both beginner and experienced forex traders.
MT4
Detection Divergences
Detection Divergences Indicator is a popular and useful free tool for forex traders using MT4. This indicator helps to identify divergences between price and indicators, which can signal potential reversals in the market. Traders can use this information to make more informed trading decisions. Simply add the indicator to your chart to start spotting divergences.
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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.
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