The Daily Range Calculator Indicator is a useful and popular free Forex indicator for MT4. It is designed to help traders calculate the daily range of a currency pair, giving them an edge in their trading decisions. The indicator works by plotting the high and low prices of a currency pair over the past 24 hours and then calculating the difference between them. This gives traders an indication of the volatility of the pair and helps them to determine the best entry and exit points for their trades. The indicator is easy to use and can be added to any MT4 chart. Once added, it will start calculating the daily range for the currency pair and display it on the chart. Traders can also adjust the settings to customize the indicator to their trading style. For example, they can choose to display the daily range in points or pips, and they can also adjust the period of calculation. This allows traders to quickly and easily identify the best entry and exit points for their trades. The indicator is free to use and is a popular choice among Forex traders.
Daily Range Calculator
The Daily Range Calculator Indicator is a useful and popular free Forex indicator for MT4 trading platforms. This indicator works by analyzing the high and low prices of the currency pair in a given day and calculating the difference between them. The indicator then displays this difference as a percentage of the daily range. It is easy to use and can be a valuable tool for any Forex trader.
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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.