The Bollinger Bands Rebound MT4 indicator is a useful tool for forex traders using the MetaTrader 4 platform. This popular indicator is free to download and can help traders identify potential price reversals. The indicator works by plotting two bands around the price chart, one above and one below the price line. These bands represent the standard deviation of the price over a certain period, typically 20 periods. When the price touches or crosses one of the bands, it can indicate a potential reversal in the price trend. Traders can use the Bollinger Bands Rebound MT4 indicator to enter or exit trades based on these signals. When the price touches the lower band, it may be a signal to buy, while a touch of the upper band could indicate a sell opportunity. Overall, this indicator can help traders make more informed decisions in the forex market.
MT4
Bollinger Bands Rebound
Bollinger Bands Rebound MT4 is a useful and popular forex indicator that is available for free on the MT4 platform. This indicator works by identifying potential price reversals when the market reaches the upper or lower Bollinger Bands. Traders can use this information to make more informed decisions about 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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