The I-Day RVI Indicator is a free and popular forex indicator for the MT4 trading platform. This indicator is useful for helping traders to identify momentum and trend changes in the market. It is a variation of the Relative Vigor Index (RVI) and is based on the calculation of the difference between the closing price of the current bar and the opening price of the previous bar. This difference is then multiplied by the volume of the current bar and the result is divided by the sum of the volume of the current bar and the volume of the previous bar. The resulting value is then smoothed by calculating the average of the last 14 bars. Traders can use this information to spot potential reversals in the market.
MT4
I Day RVI
The I-Day RVI Indicator is a useful and popular free Forex indicator for the MT4 platform. The I-Day RVI Indicator is a great tool to help traders make informed decisions in the Forex market. The I-Day RVI Indicator is a great tool for any trader looking to gain an edge in the Forex market.
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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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