The Keltner Channels Alert is a highly popular and useful forex indicator that is available for free on the MT4 platform. It is designed to aid forex traders by providing them with effective entry and exit signals, based on volatility and price movement. The indicator consists of three lines: the middle line represents an exponential moving average, while the upper and lower lines indicate the volatility boundaries. The Keltner Channels Alert is incredibly beneficial for forex traders as it helps them identify potential breakouts and market trends. When the price breaks above the upper channel line, it is considered a bullish signal, suggesting a potential buying opportunity. Conversely, when the price breaks below the lower channel line, it is considered a bearish signal, indicating a possible selling opportunity. This forex indicator also offers an extra advantage with its alert feature. Traders can set up customizable alerts that notify them whenever a significant breakout or trend occurs, allowing them to seize opportunities promptly. In conclusion, the Keltner Channels Alert is a powerful tool for forex traders, providing them with useful insights into market volatility and price movement. Its straightforward usage and availability as a free MT4 indicator make it a popular choice among traders.
MT4
Keltner Channels Alert
Keltner Channels Alert is a popular and useful forex indicator for MT4. It is a free tool that helps traders identify potential entry and exit points in the market. By using moving average-based calculations, it creates an upper and lower channel around the price, indicating overbought and oversold conditions. This indicator sends alerts whenever the price breaks above or below the channels, allowing traders to make 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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