The Bollinger Band Bars Forex indicator is a popular, free and useful tool for traders in the foreign exchange market. It is designed to be used with the MetaTrader 4 trading platform, and is used to help traders identify potential entry and exit points in the market. The Bollinger Band Bars indicator works by plotting two lines on the chart, one above and one below the current price. These lines act as support and resistance levels, and when the price breaks through either of these lines, it can be an indication of a potential entry or exit point. The Bollinger Band Bars indicator also includes a histogram which shows the strength of the current trend. This can be used to identify whether the current trend is likely to continue or if it is reversing. It is free to download and use, and can be used to help traders identify potential entry and exit points, as well as to identify trends and momentum.
MT4
Bollinger Band Bars
The Bollinger Band Bars Forex Indicator is a popular and useful tool for traders to use in the MT4 platform. The Bollinger Band Bars indicator uses the Bollinger Bands to measure volatility and it shows the price action within the bands. The indicator is easy to use and can be used to help traders to make informed trading decisions.
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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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