The Bollinger Squeeze Rainbow Forex Indicator is a popular and useful tool for traders. It is free to use and works with the MT4 trading platform. It helps traders identify when the market is about to make a big move. The indicator uses Bollinger Bands and Keltner Channels to identify when the market is about to break out of its current range. When the bands and channels come together, the indicator will flash a rainbow pattern, signaling a potential breakout. Traders can then use this signal to enter or exit the market. The indicator is easy to use and can be set up quickly. It is a great tool for traders of all levels and is quickly becoming one of the most popular free indicators available.
MT4
Bollinger Squeeze Rainbows
The Bollinger Squeeze Rainbow Forex Indicator is a popular and useful tool for traders. The indicator uses Bollinger Bands and Keltner Channels to identify when the market is about to break out of its current range. It is a great tool for traders of all levels and is quickly becoming one of the most popular free indicators available.
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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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