The Sort of Double Donchian forex indicator is a popular and free MT4 indicator that is useful for traders of all levels. It is based on the Donchian Channel indicator, and is a trend-following indicator that uses two bands to indicate the current trend. The upper band is used to identify the current trend direction, while the lower band is used to identify potential reversals. The indicator is designed to help traders identify entry and exit points, and can be used to spot potential breakouts and reversals. The Sort of Double Donchian indicator is easy to use and understand. It plots two lines on the chart, one for the upper band and one for the lower band. The upper band indicates the current trend direction, while the lower band indicates potential reversals. When the price is above the upper band, it is considered to be in an uptrend, and when the price is below the lower band, it is considered to be in a downtrend. Traders can use this indicator to identify entry and exit points, as well as potential breakouts and reversals. With its ability to identify entry and exit points, as well as potential reversals and breakouts, the Sort of Double Donchian indicator is a useful tool for traders of all levels.
MT4
Sort Of Double Donchian
The Sort of Double Donchian forex indicator is a free and popular MT4 tool that is useful for all traders. The indicator works by plotting two Donchian Channels with different parameters on the same chart. It is a great tool for traders who want to take advantage of the market’s volatility.
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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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