The BSI Trend with Channel Indicator is a useful forex indicator designed for use on the popular MT4 platform. This indicator is widely used by forex traders as it helps to identify trends and potential entry and exit points in the market. The best part is that it is completely free to use. The indicator works by plotting trend lines along with a channel on the price chart, making it easy to visually identify the direction of the trend. Traders can use this information to make informed decisions on when to enter or exit trades. Additionally, the indicator also offers customizable settings, allowing traders to adjust it to suit their trading strategies. In summary, the BSI Trend with Channel Indicator is a valuable tool for forex traders looking to improve their trading results. It is easy to use and can greatly assist in making profitable trading decisions.
MT4
BSI Trend With Channel
BSI Trend with Channel Indicator is a popular and useful forex indicator for MT4. This free indicator utilizes channel lines to show the trend direction, making it easier for traders to identify trend reversals and potential entry points. By using this indicator, traders can improve their trading decisions and increase their chances of making profitable trades in the forex market.
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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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