The OHLC Range Indicator is a useful forex indicator that is popular among MT4 traders. This free indicator displays the high and low price range for each trading day based on the open, high, low, and close prices. Traders can use this indicator to identify key price levels, determine market volatility, and make informed trading decisions. The OHLC Range Indicator is easy to use – simply add it to your MT4 chart and customize the settings to suit your trading style. By analyzing the price range data provided by this indicator, traders can easily spot potential support and resistance levels, as well as identify profitable trading opportunities. Whether you are a beginner or experienced trader, the OHLC Range Indicator can help enhance your forex trading strategy.
MT4
Ohlc Range
The OHLC Range Indicator is a popular and useful forex indicator for MT4 that shows the range of price movement for each candlestick. It is a free tool that helps traders identify potential trading opportunities based on price volatility. By monitoring the range of price movement, traders can better analyze market trends and make more informed trading decisions.
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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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