The Support and Resistance Zone Indicator is a popular and useful free Forex indicator for MetaTrader 4 (MT4). This indicator is designed to identify potential support and resistance levels in the market and give traders the necessary data to make informed trading decisions. The Support and Resistance Zone Indicator works by calculating the average price of a currency pair over a certain period of time. It then draws horizontal lines on the chart to mark the areas where the price has been supported or resisted in the past. These areas are known as support and resistance zones. The indicator also provides traders with a visual representation of the support and resistance zones. This allows traders to quickly identify potential entry and exit points in the market. Traders can also use the indicator to identify potential breakouts and reversals. It is a great tool for traders who are looking to gain an edge in the Forex market and can help traders make more informed decisions.
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Support And Resistance Zone
The Support and Resistance Zone Indicator is a popular and free Forex indicator for MT4 that helps traders identify potential entry and exit points. It is useful for both short-term and long-term traders. By combining these two methods, traders can accurately predict when the price of a currency pair is likely to reverse direction.
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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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