The Balance Volume High Low indicator is a useful tool for forex traders who use the MetaTrader 4 platform. This popular indicator is free to use and provides valuable insights into market trends. The indicator works by calculating the volume of buy and sell orders to determine market sentiment. It plots the high and low points of the balance volume on the chart, helping traders identify potential entry and exit points. Traders can use the Balance Volume High Low indicator to confirm trends, spot reversals, and make more informed trading decisions. By analyzing the volume data, traders can gauge the strength of a trend and anticipate changes in market direction. With its user-friendly interface and powerful capabilities, this indicator is a must-have for forex traders looking to improve their trading performance.
MT4
Balance Volume High Low
The Balance Volume High Low indicator is a popular and useful forex indicator for MT4. It helps traders identify buying and selling pressure by analyzing the volume of trades at different price levels. This free indicator can be used to confirm trends and predict potential reversals in the market. It is a valuable tool for analyzing market sentiment and making 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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