The Squeeze Light Indicator is a useful forex indicator that is popular among traders using the MT4 platform. This indicator is free to use and can help traders identify potential opportunities in the market. The way the Squeeze Light Indicator works is by measuring the volatility of the market. When the indicator shows a low volatility reading, it suggests that the market is in a period of consolidation or “squeeze”. This can be a sign that a breakout is imminent. Traders can use the Squeeze Light Indicator to identify potential entry and exit points for their trades. When the market is in a squeeze, traders can prepare for a potential breakout and adjust their trading strategy accordingly. Overall, the Squeeze Light Indicator is a helpful tool for forex traders looking to make informed trading decisions.
MT4
Squeeze Light
The Squeeze Light Indicator is a useful forex indicator for MT4 that is popular among traders. It is a free indicator that helps identify periods of low volatility and potential breakout opportunities. By measuring the distance between Bollinger Bands and Keltner Channels, this indicator can help traders make informed decisions on when to enter or exit 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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