Kagi is a popular free Forex indicator for MT4 (MetaTrader 4) that is useful for traders looking to identify trend reversals. The Kagi indicator plots a series of vertical lines in response to price movements, with the thickness and direction of the lines indicating the strength of the trend. When the price moves above or below a predetermined level, the Kagi indicator will draw a new line in the opposite direction. This helps traders identify when a trend is about to reverse, allowing them to enter or exit the market accordingly. The Kagi indicator is easy to use and understand, making it a popular choice for Forex traders. To use the indicator, traders simply need to set the parameters according to their desired levels of sensitivity and volatility. Once the parameters are set, the indicator will draw vertical lines on the chart in response to price movements, with the thickness and direction of the lines indicating the strength of the trend. As the price moves above or below the predetermined levels, the indicator will draw a new line in the opposite direction, alerting traders to potential trend reversals.
The Kagi 1 Indicator is a useful and popular free Forex indicator for MT4. It is designed to help traders identify and track market trends in the Forex market. The indicator works by drawing a line between two points, the open and the close, and then connecting those points with vertical lines when the price breaks the high or low of the previous line. The Kagi 1 Indicator is a great choice for any trader looking to get 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.