Free Average True Range indicator and powerful technical analysis tool that can be used in Forex trading. This new MT4 indicator is gaining popularity among traders as it provides valuable insight into market volatility that can help them make informed trading decisions. The indicator works by measuring the price range of an asset over a certain period and calculating the average range. It then presents this data in an easy-to-understand format on a chart, providing a clear view of how far a currency pair moves on average. Traders can use this indicator to set stop loss and profit targets based on current market volatility. It can also be used to identify potential trading opportunities such as breakouts or trend reversals by comparing the current range to historical levels. All in all, the Average True Range indicator is a popular and valuable tool for Forex traders, free and available for all levels of trading.
Average True Range
The Average True Range Value indicator is a popular and free forex indicator available on MT4. This new indicator calculates the Average True Range (ATR) for the specified period and displays it in the corner of the chart. The ATR is a useful indicator for measuring market volatility and identifying potential trading opportunities that you can use to set stop loss levels or determine entry and exit points for your trades. Use the Average True Range Indicator to update your personal trading toolbox.
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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.