Indicators are used in technical analysis to help interpret price data and generate tradable buy and sell signals.
You can install your chosen indicator and apply it to your MT4 platform in a few simple steps.
How to install an indicator
To install an indicator onto your MT4 platform, you need to first locate and copy the MT4 custom indicator file that you have downloaded on your computer.
In MT4, open the Data folder from the toolbar, then open the MQL4 folder. You will see the indicator folder where all the indicators are stored. Copy and paste your newly downloaded indicator to the indicator folder.
Customisation of indicators
Open MT4 and from the toolbar, select View, then Navigator. On the Navigator panel select Custom Indicators and you should see your newly installed indicator.
Double click the indicator and the Indicator Properties window will appear. Click OK.