The Trend Confirmation Indicator is a popular and free Forex indicator for the MetaTrader 4 (MT4) trading platform. It is a useful tool for traders to identify the current trend direction of a currency pair. The Trend Confirmation Indicator provides traders with a visual representation of the current trend direction and momentum. It is based on the Moving Average Convergence Divergence (MACD) indicator and uses the MACD line and histogram to generate buy and sell signals. The Trend Confirmation Indicator is easy to use and understand. The indicator is displayed on the chart as a line, which can be either positive or negative. When the line is positive, it indicates that the current trend is up. When the line is negative, it indicates that the current trend is down. The Trend Confirmation Indicator also displays a histogram, which is used to measure the momentum of the current trend. If the histogram is increasing, it indicates that the current trend is gaining momentum. If the histogram is decreasing, it indicates that the current trend is losing momentum. The Trend Confirmation Indicator is a useful tool for traders to identify the current trend direction of a currency pair.
The Trend Confirmation Indicator is a useful and popular Forex indicator for the MT4 platform. The indicator works by analyzing price movements and identifying trend lines, allowing traders to make more informed decisions. The indicator is easy to use and can be applied to any timeframe, making it a great choice for traders of all experience levels. With its simple yet powerful features, the Trend Confirmation Indicator is a great way to take your trading to the next level.
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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.