The Hi-Lo Range Oscillator MT4 is a popular and free Forex indicator that is useful for traders of all levels. It is designed to help traders identify trend reversals and spot buying opportunities in the Forex market. The indicator works by plotting the high and low of the last n bars and then calculating the difference between them. This difference is then used to create an oscillator that can be used to identify overbought and oversold conditions. The Hi-Lo Range Oscillator MT4 is easy to use and understand. All traders need to do is download the indicator and attach it to their MT4 chart. Once attached, the indicator will automatically plot the high and low of the last n bars and calculate the difference. This difference is then used to create an oscillator that can be used to identify overbought and oversold conditions. Traders can then use this information to make decisions about when to enter and exit trades. It is easy to use, free, and can be used to identify potential buying opportunities in the Forex market. By using this indicator, traders can spot trend reversals and make better trading decisions.
MT4
Hi Lo Range Oscillator
The Hi-Lo Range Oscillator is a popular, free and useful Forex indicator for the MT4 trading platform. The indicator works by analyzing the price range of a currency pair over a given period of time and then plots the results on a graph. The indicator is very easy to use and can be used by both novice and experienced traders.
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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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