The Limit Indicator is a useful Forex tool for MT4 traders. It is a popular free indicator that helps traders to identify the best entry and exit points for their trades. The indicator uses a combination of trend lines, support and resistance lines, and Fibonacci levels to identify the optimal points to enter and exit a trade. The Limit Indicator works by first plotting the trend lines on the chart. These lines are used to identify the direction of the trend, and the strength of the trend. The indicator then plots support and resistance lines, which are used to identify potential points of entry and exit. Finally, the indicator uses Fibonacci levels to identify potential areas of price reversal. By combining trend lines, support and resistance lines, and Fibonacci levels, the indicator provides traders with a comprehensive approach to trading.
MT4
Limit Indicator
The Limit Indicator is a useful and popular free Forex indicator for the MT4 platform. The indicator also shows the current trend of the market, allowing traders to make better-informed decisions. It is a great tool for any Forex trader looking to improve their trading success.
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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.
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