Introduction to the Dolly Indicator
The Dolly indicator is a pretty complex forex indicator providing entry points and profit targets.
On the left side of the chart, you will see trade analysis including Buy Area and Sell Area details, plus today’s support and resistance levels.
The profit targets of the Dolly forex indicator are pretty tight, but when taking a backtest, one can notice almost 100% accurate signals.
It is dedicated for low timeframes (like M1, M5, and M15) and all currency pairs.
The indicator is displayed directly on the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Dolly indicator in MT4?
Copy and paste the Dolly.ex4 or Dolly.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Dolly indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Dolly Indicator Free Download
To download the Dolly Indicator for Metatrader 4 (MT4) for free just click the button below: