The RSI TS Indicator is a popular and useful forex indicator for MetaTrader 4 (MT4). It is a free indicator that uses Relative Strength Index (RSI) to determine the trend of the market. The indicator has two lines, one for the RSI and one for the trend. The RSI line is used to identify the trend of the market and the trend line is used to determine the strength of the trend. The indicator is designed to be used in conjunction with other indicators, such as moving averages and oscillators. It can be used to identify overbought and oversold conditions in the market, as well as to identify potential entry and exit points. It can also be used to identify potential support and resistance levels. The RSI TS Indicator is easy to use and understand. It displays the RSI line and the trend line on the chart. The RSI line is calculated based on the closing prices of the last 14 days. The trend line is calculated based on the RSI line. If the RSI line is above 70, it indicates that the market is overbought, and if it is below 30, it indicates that the market is oversold.
MT4
RSI TS Indicator
The RSI-TS Indicator is a popular and useful Forex indicator for the MT4 trading platform. The indicator is based on the Relative Strength Index (RSI) and uses advanced trend analysis to identify potential trading opportunities. The indicator is a great tool for traders of all levels, and can help identify profitable trading opportunities in 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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