The Bollinger Bands Stop v2 Indicator is a useful and popular free forex indicator for MT4. It is designed to help traders identify potential entry and exit points in the market, as well as to spot trends, reversals, and breakouts. This indicator uses Bollinger Bands and the Relative Strength Index (RSI) to measure market volatility and momentum. The Bollinger Bands Stop v2 Indicator works by plotting two lines on the chart. The upper line is the Bollinger Band, which is a measure of market volatility. The lower line is the RSI, which is a measure of market momentum. The indicator will show a buy signal when the price is above the upper line and the RSI is below the lower line. Conversely, it will show a sell signal when the price is below the lower line and the RSI is above the upper line. Overall, the Bollinger Bands Stop v2 Indicator is a useful and popular free forex indicator for MT4. It is easy to use and understand and can help traders identify potential entry and exit points in the market. It is also useful for spotting trends, reversals, and breakouts.
MT4
Bollinger Bands Stop V2
The Bollinger Bands Stop V2 Indicator is a popular and useful Forex indicator that is available for free on the MT4 trading platform. The indicator is composed of three lines that represent the upper, middle and lower Bollinger Bands. The middle line is the average of the high and low prices of the currency pair, while the upper and lower lines represent the standard deviation of the prices. This makes it an invaluable tool for traders who are looking to take advantage of market opportunities.
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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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