The Bollinger Squeeze Indicator is a popular and useful tool for forex traders using the MT4 platform. This indicator helps traders identify periods of low volatility in the market, which often precede significant price movements. The indicator works by measuring the distance between the Bollinger Bands, which are volatility bands placed above and below a moving average. When the bands squeeze together, it indicates that the market is in a period of low volatility. Traders can use this information to anticipate a potential breakout or trend reversal. To use the Bollinger Squeeze Indicator, traders can look for periods of tightening bands on the chart and prepare to enter a trade when the bands expand again. This indicator is free to download and can be a valuable tool for forex traders looking to capitalize on market volatility.
MT4
Bollinger Squeeze
Bollinger Squeeze Indicator is a useful forex indicator available for free on MT4. It is a popular tool among traders for identifying periods of low volatility followed by high volatility. It works by measuring the distance between the upper and lower Bollinger Bands, indicating potential price breakouts. Traders can use this indicator to anticipate market movements and adjust their strategies accordingly.
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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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