The NRTR WATR indicator is a useful and popular free Forex indicator for the MetaTrader 4 (MT4) platform. This indicator is based on the NRTR (Nick Rypock Trailing Reverse) indicator, which is used to identify trend reversals in the market. The NRTR WATR indicator takes this concept further by incorporating a trailing stop loss into the equation. The indicator plots two lines on the chart, one line representing the current trend and the other line representing the trailing stop loss. The indicator will only plot the stop loss line when the trend is in the opposite direction of the current trend. The NRTR WATR indicator is a great tool for traders who want to enter trades at the start of a new trend and ride the trend until it reverses. The indicator will help traders identify the best entry points and the optimal stop-loss level. It can also be used to identify potential profit targets, as the trailing stop loss line will move in the same direction as the trend. This allows traders to exit trades at the most profitable level.
MT4
Nrtr Watr
The NRTR WATR Forex Indicator is a free and popular MT4 indicator that is useful for traders in the Forex market. The indicator works by plotting the highest highs and lowest lows of the price action over a specified period of time. The NRTR WATR indicator is a great tool for traders who are looking for an easy way to analyze the market and make informed trading decisions.
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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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