The Reversal Bar Indicator is a popular and useful tool for Forex traders. It is a free MT4 indicator that can help traders identify potential reversals in the market. This indicator is very easy to use and is suitable for both novice and experienced traders. The Reversal Bar Indicator works by analyzing the price action of a currency pair and identifying potential reversal points. It uses a combination of technical indicators such as moving averages, oscillators, and support and resistance levels to determine when a reversal may be occurring. The indicator will then display a signal on the chart to alert the trader that a potential reversal is taking place. The Reversal Bar Indicator can be used in a variety of ways. For example, traders can use it to identify potential entry and exit points for their trades. It can also be used to spot potential trend reversals and set stop-loss levels. Additionally, traders can use the indicator to identify areas of support and resistance and to gauge the strength of a trend.
MT4
Reversal Bar
The Reversal Bar Indicator is a popular, free and useful Forex indicator for MT4. It works by analyzing price action and pinpointing potential reversal points in the market. The indicator looks for price action patterns such as pin bars, engulfing patterns and inside bars, and then displays the patterns on the chart. This makes it easy to spot potential reversal points and take advantage of them. The Reversal Bar Indicator is a great tool for both novice and experienced traders, giving them the ability to identify potential reversal points and make informed trading decisions.
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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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