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Trend Reversal

The Trend Reversal indicator for MT4 identifies the trend direction and potential reversal zones of the price. The Trend Reversal Indicator is a great tool for any Forex trader, and is sure to help you stay one step ahead of the market.

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Description

This version of the Trend reversal indicator for MT4 also known as MKNC, was developed by Mladen Knezvic, and designed to identify trend direction and reversal zones in the financial trading sector. It uses the Exponential Moving Averages of varying periods to spot market direction/reversals.

The indicator can be a valuable trading asset to scalpers, day/intraday, and swing traders in identifying trading opportunities. It is also suited for beginners, intermediate, and advanced Forex traders.

Features of the Trend Reversal Indicator

The indicator utilizes different algorithms to analyze the Forex market on multiple timeframes simultaneously. It filters short-term price fluctuations and adapts to various market conditions to provide accurate trend direction/reversal.

The indicator paints red and blue inter-connected dots on a separate window, which double as a trend direction and potential reversal signal. When the blue dot crosses above the red dot, it suggests that the price may reverse to the upside and vice versa.

Furthermore, the market is in a bearish trend if the red dot stays above the blue dot, while a bullish trend when the blue dot continually stays above the red dot.

Benefits of Using the Indicator

  • Trend identification: The indicator assists traders in identifying the overall market direction, which can be valuable during technical analysis.
  • Trend Reversal Signals: The indicator can also help traders recognize potential reversal zones of the price to find trade entry opportunities.
  • Confirmation Tool: Another benefit of the indicator is it can be used as a support tool in synergy with price action or other technical indicators to find optimal trade entry/exit zones.

Indicator Description Settings

The indicator comes with the following customizable settings:

Fast_ema_period: This defines the period for the fast Exponential Moving Average (EMA).

Slow_ema_period: This defines the period for the slow Exponential Moving Average (EMA).

Signal_period: This shows the signal period of the indicator.

Applied_price: This shows the applied price.

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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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