The Range Trading Indicator MT4 is a free and popular Forex trading indicator that is useful for traders who prefer range-bound trading. This indicator is designed to identify potential entry and exit points in the market by highlighting the high and low points of a currency pair’s price action. The indicator uses a combination of moving averages and oscillators to identify areas of support and resistance. This makes it easier for traders to identify when to enter and exit the market. The Range Trading Indicator MT4 provides traders with a visual representation of the current trend and potential entry and exit points. The indicator displays a line that represents the current trend, as well as several other lines that represent potential entry and exit points. The indicator also displays several colored circles that represent the current support and resistance levels. The indicator can be customized to display different timeframes, such as daily, weekly, and monthly. The indicator is easy to use and can be quickly set up in the MT4 trading platform.
The Range Trading Indicator MT4 is a popular and free indicator for Forex trading. It works by plotting horizontal lines on the chart to represent the high and low points of the range. With this indicator, traders can easily identify range trading opportunities and take advantage of them.
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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.