Average Range Indicator is a useful forex indicator for the MT4 platform that is popular among traders for its accuracy and simplicity. This free indicator calculates the average trading range over a specified period, helping traders identify potential support and resistance levels, as well as determining the best entry and exit points for their trades. The indicator works by measuring the distance between the high and low prices of each candlestick and then averaging these values over a set number of periods. Traders can adjust the period length to suit their trading style and timeframe, making it a versatile tool for both short-term and long-term trading strategies. To use the Average Range Indicator, simply add it to your MT4 chart and adjust the settings to your liking. Keep an eye on the indicator’s values to inform your trading decisions and improve your overall profitability in the forex market.
MT4
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Average Range
Average Range Indicator is a powerful and popular free forex indicator for MT4. It measures the average range of price movement over a specified period, helping traders identify potential entry and exit points. By understanding market volatility, traders can make more informed decisions and improve their trading strategies. This useful tool is essential for any forex trader looking to maximize profits.
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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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