The Hool High Open Open Low Indicator is a useful tool for forex traders using the MetaTrader 4 (MT4) platform. This popular indicator is free to download and can provide valuable insights into market trends. The indicator works by calculating the difference between the high of the current candle and the open of the previous candle, as well as the difference between the open of the current candle and the low of the previous candle. This information can help traders identify key support and resistance levels, as well as potential entry and exit points for their trades. Overall, the Hool High Open Open Low Indicator is a valuable tool for forex traders looking to gain a better understanding of market dynamics. With its user-friendly interface and accurate calculations, this indicator can help traders navigate the complexities of the forex market with ease.
MT4
Hool High Open Open Low
The HOOL (High Open and Open Low) Indicator is a useful tool for forex traders using the MT4 platform. This popular and free indicator helps traders identify potential entry and exit points by highlighting the high open and open low levels on the chart. By understanding these key price levels, traders can make more informed trading decisions.
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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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