The MI Bollinger Band is a free and popular forex indicator for MetaTrader 4 (MT4) platform. It is a useful tool for traders to measure market volatility and identify potential trading opportunities. The MI Bollinger Band indicator is based on the classic Bollinger Bands indicator which was developed by John Bollinger. The MI Bollinger Band indicator is a volatility-based indicator that uses the standard deviation of the closing price over a specified period of time to create a band. The band is used to identify potential market entry and exit points. The MI Bollinger Band indicator has two lines, an upper and a lower line. The upper line is the standard deviation of the closing price plus the moving average of the closing price, and the lower line is the standard deviation of the closing price minus the moving average of the closing price. The MI Bollinger Band indicator is a useful tool for forex traders and can be used to identify potential trading opportunities.
MT4
MI Bollinger Band
The MI Bollinger Band indicator is a useful and popular tool for Forex traders on the MT4 platform. The indicator plots the upper and lower bands of the two types of Bollinger Bands on the chart. The MI Bollinger Band indicator can be a useful tool for traders looking to identify and capitalize on price trends and reversals.
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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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