The Month HL Indicator is a free and popular MetaTrader 4 (MT4) indicator that is useful for Forex traders. This indicator is designed to help traders identify the overall trend of the market. It displays the highest high and lowest low of the current month along with the previous month’s highest high and lowest low. The indicator also shows the current month’s price range and the previous month’s price range. The Month HL Indicator uses a simple graphical interface to display the data. The indicator displays the highest high and lowest low of the current month as a red line and the previous month’s highest high and lowest low as a blue line. The indicator also shows the current month’s price range as a green line and the previous month’s price range as a yellow line. This makes it easy to quickly identify the trend of the market. This makes it a popular and useful indicator for Forex traders.
MT4
Month Hl
The Month HL indicator is a popular and free MT4 indicator that is useful for Forex traders. It displays the highest and lowest price for the current month, as well as the highest and lowest price for the previous month. The indicator is highly customizable, allowing traders to customize the look and feel of the indicator to suit their trading style.
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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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