What is the Bigger TF OHLC Indicator for MT4?

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The Bigger TF OHLC Indicator (BTF) is a technical analysis indicator developed by traders for use with the MetaTrader 4 platform. It uses time-frame resistance and support levels to identify overbought/oversold conditions in the market.

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How to use the Bigger TF OHLC Indicator for MT4?

It can be used to predict future trends and determine when it’s appropriate to make buy or sell decisions. The BTF works best when applied to longer time frames (1 hour, 3 hours, 6 hours), where you can see whether a price trend is still intact or has ended. You can also use the BTF as a scalping tool – setting stops at Resistance and Support levels – to get quick profits from small movements in the underlying currency pair.

Bigger TF OHLC Indicator MT4 trading settings

The settings for this indicator can be customized to your preferences, allowing you to find optimal trading strategies that fit your style and design. You can also use this information to make better investment decisions by understanding market trends more accurately. Adjusting these settings allows you to maximize profits while minimizing losses – just like a professional Forex trader!

Bigger TF OHLC Indicator Advantages

Forex traders have been using the Bigger TF OHLC indicator for a long time. It is one of the most popular indicators out there, and it has several advantages that make it particularly useful in forex trading. Here are four of those advantages:

-The Bigger TF OHLC indicator can identify Buy and Sell signals much more effectively than other indicators. This makes it possible to trade with less risk since you will know when to buy or sell assets based on trends rather than guessing.

-It also provides reliable entry and exit points into trades, which minimizes losses during volatile markets.

-The indicator’s trendline construction allows you to track longer-term investments without getting distracted by daily fluctuations. This makes it ideal for high-frequency trading (HFT).

-Last but not least, the Bigger TF OHLC indicator is easy to use and beginner friendly, making it an excellent choice for those just starting in forex trading.

Bigger TF OHLC Indicator Disadvantages

There are a few disadvantages to using the Bigger TF OHLC Indicator over other trading indicators. First, it can be challenging to see when prices have moved into or out of an uptrend or downtrend. Second, it is not as accurate at picking high and low points in a trend as other indicators are. Finally, it can also lead traders into false confidence about their investments, increasing risk overall.

Indicator installation on MT4

To install the Bigger TF OHLC indicator on MT4, follow these steps:

Download the Bigger TF OHLC indicator file in .mq4 format
Open MT4, click on “File” in the top menu, and select “Open Data Folder.”
Double-click on the “MQL4” folder and then the “Indicators” folder
Copy the downloaded .mq4 file into the Indicators folder
Close and restart MT4
In MT4, right-click on the “Navigator” panel and select “Refresh.”
The Bigger TF OHLC indicator should now appear in the “Custom Indicators” section of the Navigator panel.
To apply the indicator to a chart, drag and drop it from the Navigator panel onto the chart.

Bigger TF OHLC Indicator mt4 free download

Conclusion

The Bigger TF OHLC indicator is a powerful and easy-to-use forex trading tool, ideal for experienced traders. However, it may not be as accurate as other indicators identifying uptrends and downtrends and can lead to false investment confidence. Overall, the Bigger TF OHLC indicator is an excellent choice for anyone looking to expand their forex trading skills.