The Envelopes Alert Indicator is a useful forex tool that is compatible with the popular MT4 platform. This free indicator helps traders identify potential entry and exit points by drawing envelopes around the price action on the chart. The envelopes are based on a moving average and a percentage deviation, creating bands above and below the price that can indicate overbought or oversold conditions. When the price moves outside of the envelopes, an alert is triggered, signaling a potential trading opportunity. Traders can customize the indicator by adjusting the moving average and deviation parameters to suit their trading style. The Envelopes Alert Indicator can be used on any forex pair and timeframe, making it a versatile tool for both beginner and experienced traders.
MT4
Best Envelopes Alert
Envelopes Alert indicator is a useful tool for forex traders on the popular MT4 platform. This indicator is free to use and provides alerts when price breaks out of an upper or lower envelope. Traders can use this information to make informed trading decisions. To use the Envelopes Alert indicator, simply add it to your chart and wait for the alerts to trigger.
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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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