BB Price on Channel Indicator MT5 is a popular and useful forex indicator available for free on the MT5 platform. This indicator is based on the Bollinger Bands and Price Channel indicators, providing traders with valuable information about market volatility and price levels. The BB Price on Channel Indicator works by plotting a channel around the current price action, based on the standard deviation of price movements. Traders can use this indicator to identify potential support and resistance levels, as well as to gauge the strength of a trend. By combining the insights from both the Bollinger Bands and Price Channel indicators, traders can make more informed trading decisions. To use the BB Price on Channel Indicator, simply add it to your MT5 chart and adjust the settings to suit your trading style. This versatile indicator can be used on any time frame and market, making it a valuable tool for forex traders of all levels.
MT5
Bb Price On Channel
BB Price on Channel Indicator MT5 is a popular and useful forex indicator available for free on IndicatorSpot. This indicator works by plotting the price in relation to the Bollinger Bands, helping traders identify potential buy or sell opportunities. To use the indicator effectively, simply look for price action at the upper or lower channel bands to determine market direction.
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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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