Indicators consolidate data values regarding the Open, High, Low and Close price levels of a determined currency pair in a specific period within a timeframe. In other words, MT4 indicators process these values to give you a different perspective on the market.
HOW TO ADD A MT4 INDICATOR TO YOUR CHART
Go to the Navigator window and look for the indicator folder, click to expand it and you will see the list of the all the MT4 indicators. You can choose your favorite indicator by left-clicking and dragging it to the chart. After that, you will get a parameter window to select the period and the visualization properties for the indicator.
You can modify or remove an indicator by right-clicking it and selecting one of the following options: