The Silver Channels Indicator is a useful Forex indicator that is highly popular among traders using the MetaTrader 4 platform. This indicator is free to download and can be easily added to your trading platform. The indicator works by plotting dynamic support and resistance levels on the chart, which helps traders identify potential entry and exit points. It is based on the concept of price channels, which are used to determine market trends and potential reversal points. To use the Silver Channels Indicator, simply add it to your chart and adjust the parameters to suit your trading style. As the price moves, the indicator will automatically update to reflect the current market conditions. By using this indicator, traders can make more informed trading decisions and improve their overall profitability in the Forex market.
MT4
Silver Channels
Silver Channels Indicator is a popular and useful forex indicator for MT4 that is available for free. It works by plotting dynamic support and resistance levels on the chart based on historical price movement, helping traders identify potential entry and exit points. Traders can utilize this indicator to make informed trading decisions and improve their overall trading strategies.
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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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