The Hurst Channel Indicator is a free and popular Forex indicator available on the MT4 platform. It is a useful tool for traders who want to identify and take advantage of market trends. The Hurst Channel Indicator works by calculating the maximum and minimum values of a given period of time and then plotting a line in between them. This line is known as the Hurst Channel, and it can be used to identify a trend in the market. If the market is trending up, the channel will be pointing upwards. If the market is trending down, the channel will be pointing downwards. The indicator also plots two additional lines, which are used to identify potential support and resistance levels. The upper line is known as the Resistance Line and the lower line is known as the Support Line. When the price of the currency pair reaches either of these lines, it can indicate a potential entry or exit point for the trader. Overall, the Hurst Channel Indicator is a useful and popular Forex indicator available on the MT4 platform. It can be used to identify and take advantage of market trends, as well as to identify potential support and resistance levels.
The Hurst Channel Indicator is a popular and useful MT4 tool for Forex traders. The indicator works by combining the Hurst Exponent and the fractal channel to detect the potential of a shift in the price trend. It also uses a combination of support and resistance lines to help traders identify key levels of support and resistance in the market. The Hurst Channel Indicator is a great tool for traders to use when looking for potential entry and exit points in the 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.