The Ichimoku Kinko Hyo indicator is a popular and useful tool for forex trading. It is used to identify trends and momentum in the market, and can be used as a stand-alone trading system. The Ichimoku Kinko Hyo indicator is free to use and is available on the MetaTrader 4 (MT4) trading platform. The Ichimoku Kinko Hyo indicator is composed of five lines, which are referred to as the Tenkan-sen, Kijun-sen, Senkou Span A, Senkou Span B, and Chikou Span. The Tenkan-sen and Kijun-sen lines are the two most important lines, and are used to identify the trend. If the Tenkan-sen line is above the Kijun-sen line, then it indicates an uptrend, and if the Tenkan-sen line is below the Kijun-sen line, then it indicates a downtrend. The Senkou Span A and Senkou Span B lines are used to identify support and resistance levels. The Chikou Span line is used to identify potential entry and exit points. It is based on the current price, and is shifted back 26 periods. The Ichimoku Kinko Hyo indicator is a useful tool for forex traders, as it can help identify trends and momentum in the market, as well as potential entry and exit points.
MT4
Ichimoku Kinko Hyo
The Ichimoku Kinko Hyo Indicator is a free, popular and useful Forex trading indicator that can be used in MT4. It is designed to help traders identify trends, support and resistance levels and potential entry and exit points. The indicator consists of five lines that are used to measure the momentum of a currency pair. The Tenkan-sen line is used to measure the short-term trend, while the Kijun-sen line is used to measure the mid-term trend. The Ichimoku Kinko Hyo Indicator is easy to use and can be a great tool for any trader looking to gain an edge in the Forex market.
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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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