The ATR Ratchet indicator is a popular and useful tool for forex traders using the MetaTrader 4 platform. This free indicator is widely used to measure market volatility and identify potential trend changes. The ATR Ratchet indicator calculates the Average True Range (ATR) and based on its values, it creates support and resistance levels that adjust as the market moves. When the ATR readings exceed certain levels, it indicates an increase in volatility and potential trend reversal. Traders can use the ATR Ratchet indicator to set profit targets, stop losses, and confirm entry and exit points. It is a valuable tool for both beginner and experienced traders, helping them make informed decisions and enhance their trading strategies. This forex indicator is easy to use and can be a valuable addition to any trader’s toolkit.
MT4
ATR Ratchet
ATR Ratchet Indicator is a popular and useful free forex indicator for MT4. It works by displaying the average true range (ATR) of a currency pair to help traders identify potential trends and volatility. Traders can use this indicator to set stop-loss levels and determine optimal entry and exit points.
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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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