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Indicators in MT4

This is a discussion on Indicators in MT4 within the HowToBasic forums, part of the Announcements category; How to Install Custom Indicators on MT4 - Metatrader 4 Tutorial Metatrader changed a few things in their system and ...

          
   
  1. #111
    Senior Member BrokersMinutes's Avatar
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    How to Install Custom Indicators on MT4 - Metatrader 4 Tutorial

    How to Install Custom Indicators on MT4 - Metatrader 4 Tutorial


    Metatrader changed a few things in their system and now it is harder to install custom indicators on your charts.

    But not to fear, this video will show you the new method and it is just as easy. You just have to know where to install the indicators.

    This video will show you how to install custom indicators in MetaTrader and what to do if you do not see your new indicators right away. It will also teach you the difference between .ex4 and .mq4 files and how to install both.

    This tutorial was done on a Mac with VMWare Fusion running Windows 7.

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  2. #112
    Senior Member ArticleMan's Avatar
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    How To Trade the S&P 500

    How To Trade the S&P 500
    This is just an example of the market analysis for S&P 500

    Indicators in MT4-_spx500daily.png


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  3. #113
    Senior Member ArticleMan's Avatar
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    How to Trade the Wedge Chart Pattern Like a Pro

    Wedge Pattern - indicator for MetaTrader 4
    ----------

    The Falling Wedge:

    The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When you find this pattern in a downtrend it is considered a reversal pattern as the contraction of the range indicates the downtrend is loosing steam.

    The Rising Wedge:

    The rising wedge pattern is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When you find this pattern in an uptrend it is considered a reversal pattern as the contraction of the range indicates that the uptrend is loosing steam.



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  4. #114
    Senior Member mql5's Avatar
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    ADX - Average Directional Index

    ADX - Average Directional Index

    Indicators in MT4-eurusd-h4-metaquotes-software-corp-temp-file-screenshot-19005.png


    This lesson describes the ADX with the DI+ and DI- Directional Indicators, and also shows how they are commonly use.



    The ADX is a momentum indicator used to determine the strength of a price trend; it is derived from the DMI –Directional Movement Index which has two indicators
    • +DI- Positive Directional indicator
    • –DI - Negative Directional Indicator

    ADX is calculated by subtracting these two values and applying a smoothing function, example a function of ten to come up with a 10 period ADX.

    ADX
    • The ADX is not a directional indicator but a measure of the strength of the trend. The ADX has a scale of Zero -100.
    • The higher the ADX value the stronger the trend.
    • ADX value below 20 indicates that the market is not trending but moving in a range.
    • ADX value above 20 confirms a buy or sell signal and indicates a new trend is emerging.
    • ADX value above 30 signifies a strong trending market.
    • When ADX value turns down from above 30, it signifies that the current trend is losing momentum.

    ADX indicator combined with DMI- Directional Movement Index

    Since the ADX alone is a directionless indicator it is combined with the DMI index to determine the direction of the currency pair.
    When the ADX is combined with DMI index a trader can determine the direction of the trend and then use the ADX to determine the momentum of the forex trend.
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