The Hi-Lo Indicator is a free and popular Forex trading indicator for MetaTrader 4 (MT4). This useful tool is designed to help traders identify potential market trends and make informed trading decisions. The Hi-Lo Indicator works by combining two different moving averages, a short-term moving average and a long-term moving average. The indicator plots a line on the chart that represents the average of the two moving averages. When the short-term moving average is higher than the long-term moving average, the indicator will plot a line above the chart. This indicates a bullish trend and suggests that the market is likely to move higher. Conversely, when the short-term moving average is lower than the long-term moving average, the indicator will plot a line below the chart. This indicates a bearish trend and suggests that the market is likely to move lower. With its ability to identify potential market trends and confirm existing trends, the Hi-Lo Indicator is a useful tool for any trader.
MT4
Hi Lo Indicator
The Hi-Lo Indicator is a popular and free Forex indicator for MetaTrader 4 (MT4) trading platforms. The indicator is based on the high and low prices of the previous bar and can be used to identify potential buy and sell signals. The indicator will then plot a line across the chart that represents the high and low of the previous bar. This line can be used to identify potential buy and sell signals. The Hi-Lo Indicator can be used in combination with other indicators and strategies to help traders identify potential trading opportunities.
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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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