The Parma BB Indicator is a popular and free Forex trading indicator that is useful for MT4 traders. It is known for its ability to identify trends and identify entry and exit points in the market. This indicator is based on the Bollinger Bands indicator, which is a popular technical analysis tool used by traders to measure market volatility. The Parma BB Indicator is designed to help traders identify potential trading opportunities by analyzing price action in relation to the Bollinger Bands. It does this by plotting two lines on the chart, one representing the upper Bollinger Band and the other representing the lower Bollinger Band. The indicator then uses these two lines to calculate a signal line, which is used to determine entry and exit points. The indicator works by plotting the signal line in relation to the upper and lower Bollinger Bands. When the signal line moves above the upper Bollinger Band, it is a signal to enter a long position. Conversely, when the signal line moves below the lower Bollinger Band, it is a signal to enter a short position. The Parma BB Indicator also provides traders with other useful features such as alerts and customizable parameters. This allows traders to customize the indicator to their own trading style and preferences.
MT4
Parma BB
The Parma BB Indicator is an incredibly useful and popular free Forex indicator for MT4. The indicator works by tracking and displaying the current price levels of a currency pair in relation to the upper and lower Bollinger Bands. When the price is close to the upper band, the indicator will show a buy signal, and when the price is close to the lower band, it will show a sell signal. With the Parma BB Indicator, traders can easily identify profitable trading opportunities and make better 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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