The CCI Channel Indicator is a useful and popular free forex indicator for the MT4 trading platform. It is designed to help traders identify and take advantage of price trends in the forex market. The indicator is based on the Commodity Channel Index (CCI), which is an oscillator that measures the strength of a trend and its momentum. It is commonly used to identify overbought and oversold conditions in the market. The CCI Channel Indicator works by plotting two lines on the chart – a center line and an upper and lower channel line. The center line is the CCI which is used to measure the strength of the trend and its momentum. The upper and lower channel lines are used to identify overbought and oversold conditions in the market. When the CCI crosses above the upper channel line, it is considered to be an overbought condition and when it crosses below the lower channel line, it is considered to be an oversold condition. Overall, the CCI Channel Indicator is a useful and popular free forex indicator for the MT4 trading platform.
MT4
CCI Channel
The CCI Channel Indicator is a popular and free Forex indicator that is useful for traders of all levels. The CCI Channel Indicator is a technical analysis tool that is used to identify trend reversals in the market. The indicator displays a line on the chart, which is the mid-point of the CCI. When the price moves above or below this line, it signals a possible trend reversal. The CCI Channel Indicator also features an upper and lower channel, which can be used to identify the range of the trend. It is a useful tool for traders who want to take advantage of short-term price movements.
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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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