The Kijun Sen Envelope Indicator is a popular and free forex indicator for MT4 (MetaTrader 4) platforms. It is a useful tool for traders who want to identify potential trend reversals and gauge market momentum. The indicator is composed of two lines, one representing the highest high over a given period of time and the other the lowest low. When the lines of the Kijun Sen Envelope Indicator move closer together, it indicates that the market is becoming more volatile, and when they move farther apart, it indicates that the market is becoming less volatile. The Kijun Sen Envelope Indicator is easy to use and understand. To use the indicator, traders simply plot the two lines on their chart and watch for the lines to cross. When the lines cross, it indicates that the market is about to reverse direction. Traders can use this signal to enter or exit a trade. Additionally, traders can use the indicator to set their stop loss and take profit levels. Overall, the Kijun Sen Envelope Indicator is a useful and popular forex indicator for MT4 platforms.
Kijun Sen Envelope
The Kijun Sen Envelope Indicator is a popular and free Forex indicator that is useful for traders of all levels. It works by plotting two envelopes around the Kijun Sen line, which is a moving average of the highest high and lowest low price over a certain period of time. The envelopes are set at a certain percentage above and below the Kijun Sen line. When the price breaks out of either envelope, it can signal a trend reversal or breakout. It is a useful tool for traders looking to capitalize on 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.