The Chaikin Volatility Indicator is a popular and useful Forex indicator that is free to use in the MetaTrader 4 platform. It is based on the Accumulation/Distribution Line (ADL) and was developed by Marc Chaikin. The indicator measures the rate of change of the ADL, which is the difference between the high and low prices of a currency pair. This rate of change is then smoothed using a moving average. The Chaikin Volatility Indicator is used to measure market volatility. When the indicator is rising, it indicates that the market is becoming more volatile. Conversely, when the indicator is falling, it indicates that the market is becoming less volatile. This can be used as a signal to enter or exit the market. The Chaikin Volatility Indicator is a useful tool for traders looking to identify potential entry and exit points. It can help traders determine when the market is becoming more or less volatile, allowing them to make more informed decisions. It is free to use in the MetaTrader 4 platform and is a popular indicator among Forex traders.
MT4
Chaikin Volatility
The Chaikin Volatility Indicator is a popular and free Forex indicator that is used to measure market volatility. The indicator is based on the idea that when the market is trending, it will have a higher volatility than when it is not. The indicator works by measuring the difference between the high and low prices of a currency pair over a given period of time. This indicator is a useful tool for traders who want to take advantage of market volatility and make profitable trades.
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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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