The Auto Trend Channels Indicator is a popular and free Forex indicator for MT4 trading platforms. It is a useful tool to help traders identify and take advantage of trends in the Forex market. The indicator works by plotting two lines on the chart, one line above and one line below the price. This creates a channel that is used to identify trends. When the price is trading within the channel, it is in a trend. When the price breaks out of the channel, it is likely to be in a period of consolidation. The Auto Trend Channels Indicator is a popular and free indicator that can help traders identify and take advantage of trends in the Forex market.
Auto Trend Channels
The Auto Trend Channels indicator is a popular and free MT4 indicator that is useful for Forex traders. It is designed to help traders identify and analyze trends in the currency markets. The indicator plots two trend lines on the chart, one above and one below the price, which form a channel. The Auto Trend Channels indicator is easy to use and can be quickly set up on any MT4 platform. It is a versatile and powerful tool that can be used to help traders 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.