The Strength Candles Indicator is a popular free forex indicator for the MT4 trading platform. It is a useful tool for traders who want to gauge the strength of a trend. The indicator displays the strength of a trend by plotting a histogram of the price action. The histogram will show whether the trend is strong or weak, allowing traders to make informed decisions. The Strength Candles Indicator is easy to use and can be applied to any time frame. It is based on the average true range, which is calculated by taking the average of the high and low of the current bar, and subtracting the previous bar’s close. The resulting value is then multiplied by a coefficient to get the strength of the trend. The indicator plots a histogram of the strength of the trend, with the bars being colored according to their strength. The Strength Candles Indicator is a great tool for traders who want to quickly identify the strength of a trend. It is also useful for traders who want to identify potential entry and exit points. The indicator is easy to use and can be applied to any time frame. It is a popular free forex indicator for the MT4 trading platform and can help traders make informed decisions.
MT4
Strength Candles
The Strength Candles Forex Indicator is a popular free MT4 tool that can be used to help traders identify and analyze the strength of a currency pair. It is a useful indicator for traders of all levels of experience, as it provides an easy-to-read visual representation of the strength of each currency pair. The indicator works by drawing a candle for each currency pair, with the size of the candle corresponding to the strength of the pair.
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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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