The Balance of Market Power Indicator (BMPI) for MT5 is a popular and free Forex indicator that is useful for traders looking to gain an edge when trading. The indicator provides a visual representation of the balance of market power (BMP) by showing the difference between the bid and ask prices. The indicator plots a histogram that shows the difference between the two prices, with the color of the histogram changing depending on the difference between the two prices. The indicator is useful for traders who want to identify areas where the market is more likely to move in a certain direction. The indicator can also be used to identify potential entry and exit points for trades. The BMPI is a great tool for traders looking to gain an edge in the Forex market.
Balance Of Market Power
The Balance of Market Power Indicator (BMPI) for MT5 is a popular and free Forex trading indicator. This indicator uses a combination of technical indicators to measure the balance of power between buyers and sellers in the market. It is designed to help traders identify potential trading opportunities and make more informed decisions. The indicator is easy to use and it can be used on any time frame.
Downloads - 21
0 People watching this product now!
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.