The MACD Channels Indicator is a popular and useful tool for forex traders looking to analyze market trends on the MT4 platform. This free indicator provides a visual representation of the MACD indicator on a chart, showing both the main MACD line and signal line as well as a channel that represents their distance. Traders can use the MACD Channels Indicator to identify potential buy and sell signals based on crossovers between the MACD line and signal line within the channel. When the MACD line crosses above the signal line within the channel, it can be seen as a bullish signal, while a crossover below the signal line may indicate a bearish trend. Overall, the MACD Channels Indicator is a valuable tool for forex traders looking to make informed trading decisions based on the popular MACD indicator.
MT4
MACD Channels
MACD Channels indicator is a popular and useful forex indicator for MT4. It provides traders with a visual representation of market trends by combining the MACD and Moving Average indicators. This free indicator is easy to use, simply showing channels based on MACD values. Traders can use it to identify potential entry and exit points in their trading strategy.
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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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