The Level Stop Reverse Indicator is a useful and popular free Forex indicator for the MT4 trading platform. The indicator is designed to help traders identify entry and exit points in the market. It does this by displaying colored arrows on the chart that indicate the direction of the trend. The indicator also provides the ability to set stop-loss and take-profit levels. This is done by placing levels on the chart that are above and below the current price. The Level Stop Reverse Indicator works by monitoring the current trend and then displaying colored arrows that indicate the direction of the trend. If the current trend is up, the indicator will display a blue arrow pointing up. If the current trend is down, the indicator will display a red arrow pointing down. The indicator also provides the ability to set stop-loss and take-profit levels. This is done by placing levels on the chart that are above and below the current price. The indicator can be used to help traders identify entry and exit points in the market, as well as to set stop-loss and take-profit levels.
MT4
Level Stop Reverse
The Level Stop Reverse indicator is a popular and free Forex indicator for the MT4 platform. The Level Stop Reverse indicator works by detecting reversals in price action and then plotting a corresponding line on the chart. With its easy to use interface and customizable settings, this indicator is one of the most popular and useful tools available for Forex traders.
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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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