The Price Pattern Indicator is a popular and free forex indicator for MetaTrader 4 (MT4) that is useful for traders who want to identify potential reversals in the market. This indicator can be used on any currency pair and any timeframe. It is designed to identify the following price patterns: Head and Shoulders, Double Tops and Bottoms, Triangles, Flags and Pennants. The Price Pattern Indicator works by analyzing the price action and identifying the patterns that are formed. It then draws the patterns on the chart so that traders can easily identify them. The indicator also provides a signal line that can be used to enter and exit trades. The signal line is based on a combination of the price pattern and the underlying trend. With its easy to use interface and powerful features, the Price Pattern Indicator is a must-have for any forex trader.
The Price Pattern Indicator is a popular and free Forex indicator for MT4. This useful tool is designed to help traders identify potential price patterns in the market. The indicator works by plotting lines on the chart, which can help traders identify potential support and resistance levels. Additionally, it can also be used to spot potential reversal points, which can help traders make better trading decisions. With its intuitive design, the Price Pattern Indicator can help traders identify potential trading opportunities with ease.
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Category: Price Action
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.