The Volume Profile Indicator MT5 is a powerful and useful tool for forex traders. It is one of the most popular, free indicators available for the MetaTrader 5 trading platform. The Volume Profile Indicator MT5 helps traders to identify the price and volume activity for any given asset. It is also a great tool for determining support and resistance levels. The indicator works by creating a profile of the price and volume activity for a given asset over a specified period of time. This helps traders to identify where the most activity is taking place. This information can be used to make informed trading decisions. For example, a trader can use the volume profile to identify which price levels have the most activity and then use this information to set entry and exit points. It is a free indicator available on the MetaTrader 5 trading platform and is easy to use and highly customizable. It is a great tool for identifying support and resistance levels and for making informed trading decisions.
The Volume Profile Indicator MT5 is a popular, free, and useful Forex indicator that helps traders to analyze the market. It also includes a number of other features, such as the ability to set up alerts, customize the look of the chart, and analyze the market in real time. The indicator is easy to use and can be used by both beginner and experienced traders. It is a great tool for analyzing the market, finding trading opportunities, and making better 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.