The Double SMA Forex Indicator is a popular and useful free indicator for MT4 traders. It’s a trend-following indicator that uses two simple moving averages (SMA) to generate buy and sell signals. The indicator works by calculating the difference between the two SMAs and then plotting the result as a line on the chart. When the line is above the zero line, it’s a buy signal, and when it’s below, it’s a sell signal. The indicator also includes a histogram to help traders identify the direction of the trend. The Double SMA indicator is simple to use and can be quickly applied to any chart. It’s a great tool for traders of all levels, as it can be used to identify possible entry and exit points for trades. The indicator works best in trending markets, where the two SMAs can be used to identify the direction of the trend. Traders can also use the indicator to identify potential support and resistance levels, as well as to spot potential reversals. With its simple and straightforward design, the Double SMA Forex Indicator is a great choice for traders of all levels.
MT4
Double SMA
The Double SMA Forex Indicator is a popular and free MT4 tool that is useful for all traders. It is a trend following indicator that displays two simple moving averages (SMA) on the same chart. It can be used to identify the trend direction of any currency pair and also to spot potential entry and exit points. The Double SMA indicator is a great tool for any trader looking to improve their trading performance and is available for free on the MT4 platform.
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Category: Stochastic
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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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