The Doji Reader Indicator is a popular and useful free Forex indicator for MT4. This indicator is designed to help traders identify potential reversals in the Forex market. It does this by analyzing the candle patterns of a given currency pair and then providing a signal when a potential reversal is detected. The Doji Reader Indicator works by detecting the presence of a Doji candle pattern. This is a type of candle pattern that is formed when the open and close prices of a given currency pair are nearly the same. This indicates that the market has been indecisive and a potential reversal may be imminent. The indicator will then provide a signal when a Doji candle pattern is detected, allowing traders to take advantage of the potential reversal. Overall, the Doji Reader Indicator is a great free tool for Forex traders. It is easy to use and can help traders identify potential reversals in the Forex market.
The Doji Reader Indicator is a popular free Forex indicator for MT4 that can be used to identify potential reversals in the market. The indicator works by analyzing the Doji candlestick patterns and then displaying a signal when a reversal is likely. The signal is displayed in the form of a vertical line on the chart. The line is colored red for a bearish signal and blue for a bullish signal. The Doji Reader Indicator is an easy-to-use and reliable tool for any Forex trader. It is a great way to identify potential reversals in the market and can be used to make more informed trading decisions.
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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.