The Ultra Trend Indicator is a popular and free Forex indicator for MetaTrader 4 (MT4). It is designed to help traders identify and take advantage of trends in the Forex market. The indicator is easy to use and provides traders with a visual representation of the trend. It is useful for traders who want to identify possible entry and exit points, as well as identify potential trading opportunities. The Ultra Trend Indicator is based on a combination of exponential moving averages (EMA) and a moving average convergence/divergence (MACD) indicator. The EMA is used to identify the trend direction, while the MACD is used to confirm the trend. The indicator displays the current trend direction, as well as the strength of the trend. In addition, the indicator also displays the entry and exit points for the current trend. The Ultra Trend Indicator is an effective tool for traders who want to take advantage of trends in the Forex market. It is easy to use and provides traders with a visual representation of the trend.
The Ultra Trend Indicator is a useful and popular tool for Forex traders. It works by plotting two lines on the chart, one for the trend and one for the momentum. When the trend line crosses above the momentum line, it is a signal that the trend is reversing and a potential trading opportunity is present. It is easy to use and can be applied to any time frame, making it a popular choice among Forex traders.
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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.