The VHP Channel Indicator is a useful and popular Forex indicator for the MT4 platform. It is a free indicator that provides traders with valuable insight into the market. The indicator plots a channel on the chart that is based on the highest and lowest prices of the last n candles (n is a parameter that can be adjusted). This channel is used to identify buy/sell signals, as well as potential entry and exit points. The VHP Channel Indicator is easy to use. Once it is installed on the chart, traders simply adjust the parameters to suit their trading style. The indicator can be used to identify breakouts and reversals, as well as to gauge the strength of a trend. For example, if the channel is wide, it indicates that the market is volatile and a breakout is more likely. Conversely, if the channel is narrow, it indicates that the market is in a range and a reversal is more likely.
MT4
VHP Channel
The VHP Channel Indicator is a popular and useful Forex indicator for the MT4 trading platform. The indicator works by plotting a channel around price action and displaying the highs and lows of the channel on the chart. With its simple yet effective design, the VHP Channel Indicator is a great tool for any Forex trader looking to maximize their trading success.
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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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