The Pivot Levels Indicator is a useful and popular free Forex indicator for MT4. It is designed to help traders make better trading decisions by providing them with accurate and timely pivot levels. The indicator uses a simple calculation to generate the pivot levels, which are then displayed on the chart. The pivot levels are calculated based on the previous day’s high, low, and close prices. These levels are used as support and resistance levels and can help traders identify potential entry and exit points. The Pivot Levels Indicator is easy to use and understand. It displays the pivot levels on the chart so that traders can quickly identify the levels and make trading decisions. Traders can also customize the indicator to suit their individual trading style. For example, they can change the number of days used in the calculation, the type of pivot levels used, and the color of the levels. With its simple and user-friendly interface, the Pivot Levels Indicator is a popular and useful tool for Forex traders.
The Pivot Levels Indicator for MT4 is a powerful and popular free Forex indicator. This indicator provides traders with precise support and resistance levels that can be used to identify potential areas of entry and exit. With this indicator, traders can identify the best times to enter and exit the market, as well as spot potential trading opportunities.
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Category: Support & Resistance
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.