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Traders Dynamic Index

The Traders Dynamic Index indicator for MT5 displays accurate market direction and buy/sell signals. With advanced features, it is a great tool for traders who are looking to maximize their profits.Download for free! Try now!

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Description

The Traders Dynamic Index Indicator for MT5 is one of the most reliable indicators in the financial industry that displays a detailed view of the market. It is a versatile trading tool that uses a synergy of multiple technical indicators to identify the probable direction of the market and the ranging conditions.

Features of the Traders Dynamic Index Indicator for MT5

The indicator is built with the Relative Strength Index (RSI), volatility bands, and moving averages to analyze and show the probable direction of the market. It comes with a green and red line that moves between overbought/oversold zones on a separate window below the chart.

The green line is the RSI line, while the red line represents the signal line. These lines show the trend condition of the market. So, a bullish sentiment is when the green line crosses above the red one to the upside, indicating a buy signal. Conversely, a downtrend is when the green line is below the red, indicating a sell signal.

Moreover, it is worth noting that the crossover of the lines above or below the center line (level-50 of the indicator suggests strong bullish or bearish sentiment, respectively.  Also, traders can enable or disable other features of the indicator (e.g., market baseline, etc.) from the settings tab.

Benefits of Trading with the Indicator

  • Comprehensive Market Analysis: The indicator provides an in-depth analysis of the market, such as the trend (trending/ranging) conditions, overbought/oversold conditions, and market volatility.
  • Trend Identification: The indicator helps traders identify reliable trend direction of the market, thereby enhancing trading accuracy.

Indicator Settings Description

The indicator comes with the following customizable settings:

RSI period: Determines the period of the RSI.

RSI applied price: Determines the type of applied price of the RSI.

Volatility bar period: Determines the period of the volatility bar.

RSI smoothing period: Determines the smoothing method of the RSI.

Signal smoothing period: Determines the smoothing period of the signal line.

Signal smoothing method: Determines the smoothing method of the signal line.

Overbought: Defines the indicator’s overbought level.

Oversold: Defines the indicator’s oversold level.

Show market baseline: Enables/Disables the indicator’s market baseline.

Show volatility baseline: Enables/Disables the display of the indicator’s volatility baseline.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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