The Forex Trend Scanner Indicator is a popular and free MT4 indicator that is extremely useful for Forex traders. It helps traders identify the direction of the trend and the strength of the trend. The indicator is easy to use and provides clear signals that can be used to enter and exit trades. The Forex Trend Scanner Indicator uses a combination of price action and technical indicators to identify the direction of the trend and the strength of the trend. It uses the Moving Average Convergence Divergence (MACD) indicator, Relative Strength Index (RSI) indicator, and the Average Directional Index (ADX) indicator to measure the strength of the trend. The indicator also uses the Bollinger Bands to identify the breakout points of the trend. The Forex Trend Scanner Indicator is a great tool for traders to use to make informed trading decisions.
Forex Trend Scanner
The Forex Trend Scanner Indicator is a useful and popular free tool for MT4 traders. It helps to quickly identify trending markets, so that traders can make better informed decisions. The indicator works by analyzing the price action of a market and then plotting a trend line to show the current trend. It also provides other useful information such as the strength of the trend, the direction of the trend and the volatility of the market. It is a great tool for any trader, regardless of their experience level.
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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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