The Daily ATR Indicator is a popular and free Forex indicator that is available on the MT4 platform. It is a useful tool for traders who want to identify and measure the average daily range of a currency pair. This indicator can be used to calculate the average true range (ATR) of a currency pair over a given period of time. The ATR is a measure of the volatility of a currency pair and can be used to determine the potential for price movements. The Daily ATR Indicator is based on the ATR formula, which is a measure of the average daily range of a currency pair. The indicator takes into account the previous day’s closing price, the current day’s high and low prices, and the current day’s closing price. The ATR is then calculated by taking the average of the three prices. The indicator will then display the ATR as a line on a chart.
The Daily ATR Indicator is a popular and free Forex indicator for the MetaTrader 4 (MT4) trading platform. It is a useful tool that helps traders measure the volatility of the market by calculating the Average True Range (ATR) of a currency pair over a specified period of time. By analyzing the ATR of a currency pair, traders can determine the strength of the current trend and the potential for a reversal. The Daily ATR Indicator is a great tool for any trader looking to gain an edge in the Forex market.
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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.