The ATR Stop indicator is a popular and useful tool for Forex trading. It is available for free on MetaTrader 4 (MT4) and is used to help traders determine the optimal stop-loss level for their trades. The indicator works by measuring the Average True Range (ATR) of a currency pair over a given period of time. The ATR Stop indicator then plots the stop-loss level based on the ATR value. The ATR Stop indicator is easy to use and requires no additional setup. To use the indicator, simply select the currency pair, the time frame, and the ATR period. The indicator will then calculate the ATR value and plot the stop-loss level on the chart. The stop-loss level can then be used as a reference point for setting the stop-loss order. it a great choice for traders who are just getting started with Forex trading. The ATR Stop indicator can help traders make better trading decisions and maximize their profits.
MT4
ATR Stop
The ATR Stop Indicator is a popular and free Forex indicator for MT4 that is useful for traders who want to limit their risk. This indicator is based on the Average True Range (ATR) and uses it to set stop loss levels. It calculates the ATR value for the current day and then sets the stop loss at a certain percentage of the ATR value. This indicator is a great tool for traders who want to limit their risk and protect their capital.
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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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