The Hi-Lo Indicator MT5 is a popular and free Forex indicator that is useful for traders of all levels. It is a technical indicator that shows the direction of the market and can be used to identify high and low points in the market. This indicator is especially useful for traders who are looking to identify trends and make informed decisions about their trading strategies. The Hi-Lo Indicator MT5 is a momentum indicator that uses the highs and lows of the past to identify current market sentiment. It is based on a moving average of the highs and lows of the past number of bars or candles. When the current bar is higher than the previous bar, it is considered an uptrend, and when it is lower than the previous bar, it is considered a downtrend. This indicator is useful for identifying short-term trends in the market, as well as for spotting long-term trends. By using this indicator, traders can identify short-term and long-term trends in the market, as well as identify entry and exit points. This indicator is an essential tool for any Forex trader looking to maximize their profits.
MT5
Hi Lo Indicator
The Hi-Lo Indicator MT5 is a popular and free Forex indicator that is useful for traders of all levels. The indicator works by calculating the difference between the highest and lowest price of a currency pair during a given period, which is then used to determine the trend. The Hi-Lo Indicator MT5 is a great tool for any Forex trader looking to maximize their profits.
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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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