The Extremum Indicator for MT4 is a useful and popular free forex indicator. It is designed to help traders identify potential price turning points and identify the overall market trend. The indicator works by analyzing the price action of a currency pair and looking for the highs and lows of the price over a given period of time. Once these highs and lows are identified, the indicator will then draw a line connecting them to form a trend line. This trend line can then be used to identify potential areas of support and resistance. The Extremum Indicator is easy to use and understand. It can be used to identify potential entry and exit points for trades, as well as to help traders identify the overall direction of the market. The indicator can also be used to set stop losses and take profits, as well as to identify potential areas of price reversal.
MT4
Extremum Indicator
The Extremum Indicator MT4 is a popular and useful free Forex indicator. The Extremum Indicator MT4 uses the highest high and lowest low of the previous bar to calculate the levels, which can be used to identify potential support and resistance levels. It is easy to use and can be used by both beginners and experienced traders alike.
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Category: Stochastic
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Description
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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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