The Launcher Directional Indicator is a free, popular, and useful Forex indicator for MetaTrader 4 (MT4). This indicator is designed to help traders identify emerging trends and potential entry points for their trades. It works by combining several technical indicators in order to produce a directional signal for the market. The Launcher Directional Indicator is based on a combination of the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI). The MACD is a momentum indicator that helps traders identify the direction of a trend. The RSI, on the other hand, is an oscillator that helps traders identify potential overbought and oversold levels in the market. By combining these two indicators, the Launcher Directional Indicator can provide traders with an early indication of a trend reversal or continuation. It is a free and popular indicator for MT4, making it an ideal choice for traders of all levels.
The Launcher Directional Indicator is a popular and free Forex indicator for the MT4 trading platform. The indicator is based on a combination of several indicators, such as the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Moving Average of Oscillator (OsMA). It provides traders with an easy-to-read graphical representation of current market trends, making it easier to identify entry and exit points. With its simple yet powerful features, the Launcher Directional Indicator is an excellent tool for traders of all skill levels.
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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.