The Bollinger Bands Paradox indicator is a free and popular Forex indicator for the MT4 platform. It is a useful tool for traders who use technical analysis to analyze the market and identify potential trading opportunities. The indicator uses a combination of Bollinger Bands and the Parabolic SAR to detect possible price reversals. It is designed to be used on all time frames, making it a versatile tool for traders. The Bollinger Bands Paradox indicator is based on two main components. First, it uses Bollinger Bands to identify possible overbought or oversold conditions. Bollinger Bands are a popular technical indicator that measure the volatility of a security or currency pair. They are created by plotting two lines on a chart: one line is two standard deviations above the moving average, and the other is two standard deviations below the moving average. When the price moves outside of these two lines, it is considered to be overbought or oversold. The Bollinger Bands Paradox indicator is a useful tool for traders who use technical analysis to analyze the market and identify potential trading opportunities. It is designed to be used on all time frames, making it a versatile tool for traders. The indicator combines the power of Bollinger Bands and the Parabolic SAR to detect possible price reversals, giving traders an edge in the market.
MT4
Bollinger Bands Paradox
The Bollinger Bands Paradox indicator is a popular and useful Forex indicator for MT4. It is free to download and provides traders with an effective way to analyze market trends and identify trading opportunities. The indicator uses Bollinger Bands to measure price volatility and identify potential entry and exit points. The Bollinger Bands Paradox indicator is a great tool for any Forex trader looking to maximize their trading potential.
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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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