The Bollinger Squeeze Basic Indicator is a popular and useful tool for Forex traders. It is a free MT4 indicator that helps traders identify potential trading opportunities. It is based on the idea that when the market is in a tight range, a breakout is likely to occur. This indicator consists of two lines that measure the volatility of the market. When the lines are close together, it indicates that the market is in a tight range and when the lines move apart, it indicates that a breakout is likely. The Bollinger Squeeze Basic Indicator works by measuring the standard deviation of the market price over a specific period. When the standard deviation is low, it indicates that the market is in a tight range and when the standard deviation is high, it indicates that a breakout is likely. The indicator also measures the average true range of the market, which is the average distance between the high and low of the market over a specific period. When the average true range is low, it indicates that the market is in a tight range and when the average true range is high, it indicates that a breakout is likely.
MT4
Bollinger Squeeze Basic
The Bollinger Squeeze Basic Indicator is a useful and popular free Forex indicator for the MetaTrader 4 (MT4) trading platform. The indicator is based on the Bollinger Band Squeeze concept, which suggests that when the bands are narrow, the price is likely to break out in a strong direction. The Bollinger Squeeze Basic Indicator plots two bands that represent the upper and lower standard deviations of the price. The indicator can also be used to identify trend reversals and to confirm existing trends.
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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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