Welcome to the advanced MT4 course , and the second module, platform tools. In this video, we are going to teach you where to look for custom indicators and how to install them on your MT4 platform.
The first thing you want to do is to go to a site called mql4. Then you want to hit on code base and indicators for the MetaTrader 4. You have to go to mql5. Here you will find all the custom indicators that these community members have coded. Of course, you have to click on code base, and here are all the indicators that have hit in the description that you searched for.
So here we have a trend indicator. In this case, you will see that the indicator is. This other indicator, this one is pretty cool. Actually, this is very much like the one I was looking for that is called Awesome Trend Indicator, that shows you when the trend is up or down, and the moving average -like line changes color. This is an indicator that will alert you when price crosses with a trend line, which I find very useful. You can find things that you thought you would never find.
These guys have made it possible for you to have it for free. We have downloaded the first one. Once you have downloaded the indicator, you open up the zip file and you double click on the indicator. You can see that it has a 4 right here.
This is what the indicator looks like behind the chart. What you do right here is just save it, and you close it. In this case, it is the Trend O Period. You can see that you have the information of the developer right here on this tab, and you have the inputs. You can modify the size font and the corner on which you want the alerts to appear, et cetera.
Every indicator has different inputs that you can modify, and in this case, these are the inputs that you can actually modify on it. So you click on okay and you go on a lower timeframe, on a minute and here you go. This is the indicator that we just downloaded, and as you can see, on the one minute time frame, we have an uptrend; on the five-minute, an uptrend, et cetera. On the higher time frames, it is a downtrend. Of course, you can always attach them by using the navigator window and going to indicators, and just grabbing and releasing in front of the chart.
If you want to modify where the information of this indicator appears, you just go to indicator list, you double click on the indicator, and just modify it. Practice Trading at eToro Now! Best Forex Brokers Benefits of Trading with our BO Indicator:More...