The Bollinger Bands Toucher Indicator is a highly popular and useful forex indicator designed specifically for traders using the MT4 platform. This indicator, widely recognized for its accuracy and effectiveness, is available for free and provides valuable insights into market trends. When applied to a forex chart, Bollinger Bands Toucher Indicator helps traders identify potential entry and exit points. It consists of three lines – the upper, middle, and lower bands – which are based on statistical calculations. The middle band represents the simple moving average, while the upper and lower bands indicate the price’s volatility levels. By monitoring the price’s movement in relation to these bands, traders can spot potential reversals, breakouts, or trend continuations. When the price touches or breaks above the upper band, it indicates an overbought market, suggesting a potential downward trend. Conversely, when the price touches or breaks below the lower band, it signifies an oversold market, indicating a potential upward trend. Overall, the Bollinger Bands Toucher Indicator is a powerful tool for both novice and experienced forex traders alike. Its ease of use, accuracy, and availability make it a must-have indicator in any trader’s arsenal.
MT4
Bollinger Bands Toucher
Bollinger Bands Toucher Indicator is a popular and useful forex indicator for MT4. It is a free indicator that helps traders identify potential entry and exit points in the market. This indicator works by displaying bands above and below a moving average, which represents the volatility of the market. Traders can use it to identify overbought and oversold conditions and make informed trading decisions.
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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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