What Is The Most Commonly Used Indicator
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- Works on MT4 and MT5
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Litmus is the most commonly used natural chemical indicator, while phenolphthalein is the most widely used synthetic indicator in chemistry laboratories.
An indicator is a dye that changes color depending on whether it is in an acid or a base.
Common Types of Indicators
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- Litmus: A natural dye from lichens available as a solution or paper. It turns red in acids, blue in bases (alkalis), and purple in neutral solutions.
- Phenolphthalein: A synthetic liquid indicator used frequently in titrations. It stays colorless in acidic and neutral solutions, but turns pink or magenta in basic solutions.
- Methyl Orange: Another synthetic indicator that turns red in acidic solutions and yellow in basic solutions.
How to Install on MetaTrader
- Download the file and extract it.
- In MetaTrader open File → Open Data Folder → MQL4/MQL5.
- Copy robots to "Experts" and indicators to "Indicators".
- Restart MetaTrader and drag the tool onto a chart.
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