The BH Ergodic Indicator is a popular and free Forex indicator for the MetaTrader 4 (MT4) trading platform. It is a useful tool for traders who want to identify and take advantage of emerging trends in the Forex market. The indicator works by combining two momentum indicators, the Balance of Power (BOP) and the Ergodic Oscillator (EO). The BOP indicator measures the strength of a trend by comparing the closing price to the high and low of the period. The EO oscillator measures the momentum of the trend by comparing the current closing price to the previous closing price. When the BOP indicator is above the EO oscillator, the trend is considered to be up. Conversely, when the BOP indicator is below the EO oscillator, the trend is considered to be down. The indicator is easy to use and can be set up quickly on the MT4 platform. It is free to use and is popular among Forex traders due to its accuracy and reliability. The BH Ergodic Indicator is an essential tool for traders who want to take advantage of the ever-changing Forex market.
MT4
BH Ergodic
The BH Ergodic Indicator is a powerful and popular free Forex indicator for MT4. The indicator works by analyzing the current market conditions and providing traders with an indication of when to enter and exit the market. It also helps traders identify potential trading opportunities and make informed decisions about their trading strategies. With its accurate and reliable signals, the BH Ergodic Indicator is a great choice for any Forex trader.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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