The Better Choppiness Index (BCI) Indicator is a useful and popular free Forex indicator available for MT4 trading platforms. It is used to detect market choppiness, which is a measure of market volatility. It can be used to identify periods of low volatility, which can be helpful for traders who are looking to enter a market at the right time. The BCI indicator works by measuring the amount of price changes over a given period of time. It does this by comparing the current price to the price at the start of the period. If the price has changed significantly, then the indicator will show a high value. If the price has stayed relatively stable, then the indicator will show a low value. This can be used to identify periods of low volatility, which can be helpful for entering the market. The BCI indicator is a useful tool for any trader who is looking to identify potential trading opportunities. It is free to use and can be downloaded from most MT4 trading platforms. It is a popular indicator and is used by many traders to help identify potential trading opportunities.
Better Choppiness Index
The Better Choppiness Index Indicator is a useful and popular free Forex indicator for MT4. The indicator works by calculating the difference between the current ATR and the previous ATR. If the difference is above a certain level, then the market is considered to be choppy. The indicator also provides a graphical representation of the choppiness index, which helps traders to identify the choppiness of the market. It is a great tool to help traders decide when to enter and exit the market. The Better Choppiness Index Indicator is easy to use and is suitable for both beginners and experienced traders.
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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.