The Sliding Channels Indicator is a useful forex indicator designed for the popular MT4 platform. This indicator is widely used by traders to identify trend direction and potential entry points in the forex market. The Sliding Channels Indicator works by drawing two parallel lines above and below price action, creating a channel that traders can use to gauge market momentum. To use this indicator, traders simply need to add it to their MT4 chart and adjust the settings to fit their trading style. By analyzing the width and slope of the channel, traders can determine if the market is trending or ranging, and make informed trading decisions accordingly. The Sliding Channels Indicator is a free tool that is easy to use and can greatly enhance a trader’s ability to accurately predict market movements.
MT4
Sliding Channels
Sliding Channels Indicator for MT4 is a popular and useful tool for forex traders. This free indicator helps to identify trends and potential entry and exit points by displaying channels on the chart. Traders can use the indicator to trade breakouts or bounces within the channel. Overall, the Sliding Channels Indicator for MT4 is a valuable resource for forex trading.
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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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