The Pattern Recognition Indicator is a popular and free Forex indicator for the popular MT4 trading platform. It is a useful tool for traders as it helps them to identify chart patterns and determine potential buy/sell signals. The indicator is designed to automatically recognize and plot several chart patterns such as triangles, wedges, flags, and pennants. This makes it easy for traders to quickly identify and take advantage of different trading opportunities. The Pattern Recognition Indicator is easy to use and set up. It is available for free on the MT4 platform. Once it is installed, it can be configured to automatically detect and plot chart patterns. It also allows traders to customize the settings to display only the desired patterns. The indicator has several settings that can be adjusted to suit the trader’s trading style and preferences. Overall, the Pattern Recognition Indicator is a useful and popular Forex indicator for the MT4 platform.
MT4
Pattern Recognition
The Pattern Recognition Indicator is a popular and useful free Forex indicator for MT4. It works by scanning the market for certain chart patterns and then displaying the results on the chart. The Pattern Recognition Indicator is a great tool for traders looking for an edge in the Forex market.
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Category: Signal
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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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