The Trend Bands Indicator is a popular and useful Forex indicator for MT4. It is a free indicator that is designed to help traders identify and stay ahead of price trends. It does this by plotting two bands around a price chart. The upper band indicates the start of a new trend and the lower band indicates the end of a trend. The indicator works by plotting a line along the trend and then drawing the two bands around it. The upper band is drawn at the highest point of the trend and the lower band is drawn at the lowest point. This allows traders to quickly identify when a trend is starting or ending. The indicator is also useful for identifying potential entry and exit points. When the price reaches the upper band, it indicates that the trend is likely to continue and traders can use this as an entry point. Conversely, when the price reaches the lower band, it indicates that the trend is likely to reverse and traders can use this as an exit point. It is a great tool for any trader looking to capitalize on price trends and maximize their profits.
The Trend Bands Indicator is a popular and useful Forex indicator for the MT4 trading platform. It is a free indicator that helps traders identify strong support and resistance levels on their charts. It works by plotting two bands around a moving average line. The upper band is a resistance level and the lower band is a support level. When the price approaches one of these bands, traders can identify potential entry and exit points. It is also helpful in determining the strength of a trend, as well as providing an indication of when a trend may be reversing.
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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.