The Off Trend Indicator is a useful and popular free Forex tool for the MT4 platform. It helps traders identify potential trend reversals and opportunities to enter or exit a trade. The indicator works by using a combination of moving averages and a unique ‘off-trend’ algorithm to detect reversals. It is designed to provide traders with signals when the market is overbought or oversold. When the indicator detects a potential reversal, it will alert the trader with an arrow pointing in the direction of the reversal. The trader can then use this signal to enter or exit a position. The indicator also provides traders with visual cues, such as a change in color, to help them identify potential trend reversals. The Off Trend Indicator is easy to use and can be used in conjunction with other indicators or trading strategies. It works on all time frames and can be used for any currency pair. This indicator is popular among traders because it is free and easy to use. It is also a great tool for beginners as it provides visual cues that can help them identify potential reversals. This indicator is free and can be used on any currency pair and any time frame.
MT4
OFF Trend
The Off Trend Indicator is a popular and useful Forex indicator for MT4 that is available for free. It works by analyzing the price action of a currency pair and displaying a visual representation of the trend. With its easy to use interface, the Off Trend Indicator is a great tool for any trader looking to take advantage of 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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