The Channel Balance Indicator is a useful and popular free Forex indicator for MT4 that can help traders identify potential entry and exit points in the market. This indicator is based on the idea that the market is in balance when price is between the upper and lower bands. When the market is in balance, traders can look for opportunities to enter or exit the market. The Channel Balance Indicator is easy to use. It plots two bands on the chart, one above and one below the current price. The upper band is calculated by adding a certain number of pips to the current price, while the lower band is calculated by subtracting the same number of pips from the current price. The number of pips used in the calculation is adjustable. The Channel Balance Indicator is a useful tool for traders looking to identify potential entry and exit points in the market. It is easy to use and can be adjusted to fit the individual needs of each trader.
MT4
Channel Balance
The Channel Balance Indicator is a powerful and useful Forex indicator for the MT4 platform. It is popular among traders for its ability to identify support and resistance levels in the market. It is free to download and use, and can be a great tool for helping to make more informed 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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