Bulls Power Indicator is a popular and free Forex indicator used in the MT4 trading platform. It is a useful tool that helps traders identify the trend direction and strength of the market. The indicator is based on the Momentum oscillator, which is used to measure the strength of a trend. The Bulls Power Indicator calculates the difference between the highest and lowest price of a certain period and then divides it by the total volume of the period. The result is then plotted as a line on the chart. The Bulls Power Indicator can be used to identify potential buy and sell signals. When the indicator line is rising, it indicates that the bulls are in control and the prices are likely to continue increasing. On the other hand, when the indicator line is falling, it indicates that the bears are in control and the prices are likely to continue decreasing. Traders can use this information to place trades accordingly. Overall, the Bulls Power Indicator is a useful tool for Forex traders. It can help traders identify the trend direction and strength of the market, as well as identify potential buy and sell signals and overbought and oversold conditions.
MT4
Bulls Power
The Bulls Power Indicator is a useful tool for Forex traders. It is a popular indicator for MT4 platforms and is available for free. This indicator shows the power of bulls in the market by comparing the closing price to the highest price during a given period. It is calculated by subtracting the highest price from the closing price and dividing the result by the total range of the period. It is useful for traders to identify the buying pressure in the market and to make informed 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.
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