The High Low Channel Indicator is a popular and free Forex indicator for MT4 that is useful for both novice and expert traders. It is a technical analysis indicator that helps traders identify the current trend in the market. The indicator plots two lines on the chart, one representing the highest high over a period of time, and the other representing the lowest low. The High Low Channel Indicator works by calculating the highest and lowest prices of a given period. It then plots the two lines on the chart, one representing the highest high and the other representing the lowest low. The indicator also allows traders to customize the period for which the high and low levels are calculated. This makes it easy for traders to identify support and resistance levels. The High Low Channel Indicator is an easy to use tool that can be used to recognize support and resistance levels.
High Low Channel
The High Low Channel Indicator is a popular and free MT4 forex indicator that can be used to identify potential trading opportunities. The indicator plots two parallel lines, one above the current price and one below, creating a channel. When price breaks above or below the channel, it can be a signal of an impending trend reversal or breakout. The indicator also includes a histogram which can be used to identify potential support and resistance levels. The indicator is easy to use and can be a great addition to any trader’s arsenal.
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Category: Support & Resistance
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.