Easiest way for me is to take or save the file from wherever you are downloading it from into the Metatrader folder. This typically is going to be in C:\Program Files\MetaTrader 4\experts\indicators
See below.
Activating/using the indicator
For me, the easiest way is add an indicator to a chart is to click the View/Navigator button from within MT4 and then expand the Custom Indicator folder by clicking on the little "+" sign out to the left of the folder (see below). Find your file or indicator you want to use then right click and select "Attach to a chart". There are other ways to do it, but that's just what I have gotten used to.
One other handy tip is showing/hiding volume by pressing "Ctrl L" at the same time to flip between showing/hiding volume bars.
"remember the mayonaise jar...keep cool but don't freeze"
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