The Bollinger Bands Power CCI Indicator is a popular and free Forex indicator for the MetaTrader 4 (MT4) trading platform. It is useful for traders who want to identify potential reversals and breakouts in the market. The indicator uses Bollinger Bands, Commodity Channel Index (CCI), and Moving Average (MA) to generate signals for potential trading opportunities. The Bollinger Bands Power CCI Indicator is based on the idea that the market tends to move in cycles. The indicator uses Bollinger Bands to identify potential reversal points in the market. The bands are plotted two standard deviations away from the moving average. When the price touches the upper band, it is considered overbought. When the price touches the lower band, it is considered oversold. When the price is in the middle of the two bands, it is considered neutral. The Commodity Channel Index (CCI) is used to measure the strength of the trend. When the CCI is rising, it indicates that the trend is strong. When the CCI is falling, it indicates that the trend is weakening. The moving average is used to identify the direction of the trend. The Bollinger Bands Power CCI Indicator is a useful tool for traders who want to identify potential reversals and breakouts in the market. It is a popular and free indicator for the MetaTrader 4 (MT4) trading platform. The indicator uses Bollinger Bands, Commodity Channel Index (CCI), and Moving Average (MA) to generate signals for potential trading opportunities.
MT4
Bollinger Bands Power CCI
The Bollinger Bands Power CCI Indicator is a useful and popular Forex indicator for MT4. The indicator works by plotting two lines, the upper and lower Bollinger Bands, and the CCI line. When the CCI line is above the upper Bollinger Band, it signals that the market is overbought and when it is below the lower Bollinger Band, it signals that the market is oversold.
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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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