The Daily Pivot Targets Indicator is a popular and useful free Forex indicator for MT4 traders. This indicator helps traders identify where the price action is likely to move during the day based on the previous day’s price action. The indicator plots three lines on the chart: the pivot point, the first support/resistance level, and the second support/resistance level. The pivot point is the average of the high, low, and close of the previous day. The first support/resistance level is calculated by subtracting the pivot point from the high and adding the pivot point to the low of the previous day. The second support/resistance level is calculated by subtracting the first support/resistance level from the high and adding the first support/resistance level to the low of the previous day. The Daily Pivot Targets Indicator is easy to use and can be a great tool for traders who are looking to identify potential entry and exit points. Traders can use the indicator to identify potential price levels where the price action may reverse or where it may break out of a range.
MT4
Daily Pivot Targets
The Daily Pivot Targets Forex Indicator is a popular and useful tool for MT4 traders. It is free to use and helps traders to identify potential support and resistance levels for the day. The indicator plots daily pivot levels, which are calculated using the previous day’s high, low and close prices. Once the pivot levels are plotted, traders can use them as potential entry and exit points. The indicator is also helpful in finding potential reversal points, as well as for setting stop losses and take profits. With the Daily Pivot Targets Forex Indicator, traders can quickly spot potential trading opportunities and make informed decisions.
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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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