The BB MACD Indicator is one of the most useful and popular Forex indicators available for the MT4 platform. It is a free indicator that helps traders to identify potential entry and exit points in the Forex market. The BB MACD Indicator is a combination of two indicators, the Moving Average Convergence Divergence (MACD) and the Bollinger Bands (BB). The MACD is a momentum indicator that measures the difference between two moving averages. The Bollinger Bands are a volatility indicator that helps to identify the highs and lows of price movements. The BB MACD Indicator helps traders to identify the direction of the trend and the strength of the trend. It also helps traders to identify potential entry and exit points in the market. The indicator can be used to identify overbought and oversold conditions in the market. By combining the two indicators, the BB MACD Indicator helps traders to identify potential entry and exit points that are in line with the current trend.
The BB MACD Forex Indicator is a useful and popular tool for traders who use the MetaTrader 4 (MT4) platform. The indicator consists of two lines – the MACD line and the signal line. The MACD line is the main indicator and is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. The signal line is the 9-day EMA of the MACD line. When the MACD line crosses above the signal line, it is a buy signal and when it crosses below the signal line, it is a sell signal. This indicator is popular among traders because it is easy to interpret and can help traders make more informed decisions when trading the Forex market.
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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.