The Bollinger Bands SR V2 indicator is a useful tool for forex traders using the popular MT4 platform. This free indicator helps traders identify potential support and resistance levels based on Bollinger Bands. The indicator works by plotting dynamic support and resistance levels using the standard deviation of price movements. These levels can help traders make more informed decisions about when to enter or exit trades. To use the Bollinger Bands SR V2 indicator, simply download and install it on your MT4 platform. Then, look for points where price touches or crosses the support or resistance levels. These points can signal potential reversal or continuation patterns, giving traders valuable insights into market trends. Overall, the Bollinger Bands SR V2 indicator is a valuable tool for forex traders looking to enhance their technical analysis and make more profitable trades.
MT4
Bollinger Bands Sr V2
Bollinger Bands SR V2 Indicator is a popular and useful forex indicator for MT4. It is a free indicator that helps traders identify support and resistance levels based on Bollinger Bands. This indicator works by showing bands around price levels to indicate potential areas of reversal. Traders can use this indicator to make informed trading decisions in 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.
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