The HiLo Bands Indicator is a highly useful forex indicator that is popular among traders using the MetaTrader 4 (MT4) platform. This indicator is widely known for its accurate representation of market trend and price movement, making it a valuable tool for forex traders. The HiLo Bands Indicator consists of two lines: the upper and lower bands. These bands are based on the highest-high and lowest-low of a specified period, providing traders with a clear visual representation of support and resistance levels. By utilizing these bands, traders can identify potential entry and exit points, as well as determine the overall market trend. One of the key advantages of the HiLo Bands Indicator is its simplicity and ease of use. Traders can easily interpret the indicator’s signals and incorporate them into their trading strategies. Additionally, this indicator is available for free, allowing traders to access its benefits without any additional cost. In summary, the HiLo Bands Indicator is a popular and useful forex indicator for MT4 traders. Its simplicity, accuracy, and availability make it a valuable tool for analyzing market trends and identifying potential trading opportunities.
MT4
Hilo Bands
The HiLo Bands Indicator is a popular and useful forex indicator for MT4, available for free. This indicator provides traders with detailed information on price volatility and potential trend reversals. By plotting two bands above and below the price chart, it helps to identify support and resistance levels effectively. Traders can utilize this indicator in their analysis to make more informed trading decisions and improve their overall performance 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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