The BB Price on Channel Indicator for MT4 is a useful and popular free Forex indicator. It is designed to help traders identify price movements within the channel and find entry and exit points. The indicator works by plotting two exponential moving averages on the price chart. The first EMA is a shorter period and the second is a longer period. The indicator then draws a channel between the two EMAs and plots a line to show the current price level within the channel. The channel is used to identify overbought and oversold levels, and traders can use it to detect potential entry and exit points. The BB Price on Channel Indicator is easy to use and can be applied to any timeframe. It can be used to spot trends, gauge momentum, and identify potential support and resistance levels. This indicator is a great tool for any trader looking to gain an edge in the Forex market.
MT4
BB Price On Channel
The BB Price on Channel Indicator for MT4 is a popular and free tool for Forex traders. The indicator plots the price on a channel based on the Average True Range, which is a measure of volatility. The channel is drawn in the form of two bands, one above and one below the price.
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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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