The Bounce Strength Index is a useful forex indicator designed for the MT4 platform. It is a popular and free tool that helps traders determine the strength of price bounces within the market. This indicator works by analyzing price movements and identifying key levels where price tends to bounce off of. It measures the strength of these bounces, helping traders make more informed decisions about when to enter or exit a trade. To use the Bounce Strength Index, simply apply it to your chart and look for areas where the indicator shows strong bounce levels. These levels can act as support or resistance, helping you anticipate potential market movements. By incorporating this indicator into your trading strategy, you can improve your chances of success in the forex market.
MT4
Bounce Strength Index
Bounce Strength Index is a popular and useful forex indicator for MT4 that is available for free. This indicator measures the strength of price bounces and can help traders identify potential reversal points in the market. By analyzing price bounces, traders can make more informed trading decisions. Simply add the indicator to your chart and use it to gauge market sentiment.
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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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