The Risk Reward Box indicator for MT4 is a useful tool for forex traders looking to manage their risk effectively. This popular indicator helps traders to identify potential entry and exit points by displaying the risk to reward ratio on the chart. The indicator works by calculating the distance between a trader’s entry point and potential stop loss, as well as the distance to the target profit level. This information is then displayed on the chart in a clear and easy-to-read manner, allowing traders to make informed decisions about their trades. To use the Risk Reward Box indicator, traders simply need to attach it to their chart and input their desired stop loss and target profit levels. The indicator will then automatically calculate and display the risk to reward ratio, helping traders to manage their trades more effectively. Best of all, this powerful tool is available for free, making it a valuable addition to any forex trader’s toolkit.
MT4
Risk Reward BOX
Risk Reward Box Indicator for MT4 is a useful tool for forex traders looking to better understand their risk-reward ratios. This popular and free indicator displays visual boxes on the chart to illustrate potential price movements and profit targets. Traders can easily adjust the box size to fit their individual trading preferences, making it a versatile and valuable tool for analysis.
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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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