The Fractal Channel Indicator is a useful and popular free Forex indicator for the MT4 trading platform. It is a technical analysis tool used to identify and track price trends in the Forex market. The indicator works by plotting two parallel lines that form a channel, which follows the price action of a currency pair. The upper line of the channel is formed by the highest high of the previous five candles, while the lower line is formed by the lowest low of the previous five candles. When the price action breaks through either of the lines, it is an indication that the trend is about to change. The Fractal Channel Indicator is a great tool for traders looking to maximize their profits in the Forex market. By combining it with other technical analysis tools, traders can gain a better understanding of the market and make more informed trading decisions. With its easy to use interface and free availability, the Fractal Channel Indicator is a popular choice for traders of all levels.
MT4
Fractal Channel
The Fractal Channel Indicator is a useful and popular free Forex indicator for the MT4 trading platform. It is a technical analysis tool used to identify and track price trends in the Forex market. The indicator works by plotting two parallel lines that form a channel, which follows the price action of a currency pair.
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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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