The LOC Kijun Sen Channel Indicator is a useful tool for forex traders using the MetaTrader 4 platform. This popular indicator is free to download and is highly sought after for its ability to identify trends and potential reversals in the market. The indicator works by plotting two lines based on the Kijun Sen indicator, one acting as support and the other as resistance. Traders can use these lines to gauge the strength of a trend and make informed decisions on when to enter or exit a trade. To use the LOC Kijun Sen Channel Indicator effectively, traders can look for price action to bounce off the support or resistance lines, or for a breakout above or below the channel. This indicator is a valuable tool for both new and experienced forex traders looking to improve their trading strategies.
MT4
LOC Kijun Sen Channel
LOC Kijun Sen Channel Indicator is a popular and useful forex indicator for MT4. It provides a visual representation of the Kijun Sen line, which helps traders identify potential support and resistance levels. The indicator is free to use and can be easily applied to any forex chart. Traders can use this indicator to make informed trading decisions based on price movements within the channel.
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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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