BMI Bands Ichimoku Indicator is a useful and popular free Forex indicator for MT4 trading platform. It is based on the popular Ichimoku Kinko Hyo indicator and uses its principles to identify the trend and generate buy and sell signals. The indicator consists of three bands: the Tenkan Sen, Kijun Sen and Chikou Span. The Tenkan Sen is a short-term moving average, while the Kijun Sen is a medium-term moving average. The Chikou Span is a lagging indicator that is used to identify potential support and resistance levels. The BMI Bands Ichimoku Indicator is designed to help traders identify potential entry and exit points in the Forex market. It does this by combining the signals generated by the three bands. If the Tenkan Sen crosses above the Kijun Sen, it is a signal to buy. Conversely, if the Tenkan Sen crosses below the Kijun Sen, it is a signal to sell. The Chikou Span can be used to identify potential support and resistance levels. If the price is below the Chikou Span, it is a sign of potential resistance. Conversely, if the price is above the Chikou Span, it is a sign of potential support.
MT4
Bmi Bands Ichimoku
The BMI Bands Ichimoku Indicator is a useful and popular free Forex indicator for MT4. It works by combining the Ichimoku Kinko Hyo indicator with Bollinger Bands to provide a comprehensive trading system. The indicator is easy to use and can be a valuable tool in any trader’s arsenal.
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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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