People have been emailing and baffled as to why they download MT4 Trading Indicators and try to install them in Metatrader MT4 and they don’t work. The problem is that after Metaquotes released this upgrade to MT4 called build 600 or 604, 610 or whatever the current version is there are a different layout and file structure for where the data is now stored. It’s now like MT5 in that the files are stored in a place on the C drive, user, AppData, roaming, Metaquotes, terminal and then a long series of useless numbers.
If you have MT4 installed from several different Forex brokers this could be beyond confusing because you have not idea while series of numbers correspond to which broker. The solution here is to go to File, open data folder and that takes you right to the new place where you need to copy and paste the indicators.
If you are going to be involved in Forex trading and you are using Metatrader MT4 of MT5 this will help you to get rid of some of the frustration of having to deal with Metaquotes products.
You may install MT4 indicators such as pivot points which are pivotal and use the formula for the previous day’s high and low component.
Learning what works in trading can seem daunting and many people wonder if they need a crystal ball, or some kind of special software rather than a skill in reading markets. Any method that works is suited to use for markets other than Forex. The difference between convergence and divergence when using exponential moving averages or stochastics set to exponential rather than simply help emphasize the turning point. The industry henchmen often lure unsuspecting traders to open new accounts hoping to become rich in a short amount of time using Bollinger band or any other indicator. The Forex market can be volatile and information contains a deluge of useless jargon.
Be sure to check out my other videos for tips on how to trade forex!
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MT4 Trading Indicators Not Working and Won’t Install on MT4 Build 600?