The Daily Range Indicator is a popular and free Forex indicator for MetaTrader 4 (MT4). It is a useful tool for traders who want to identify the daily range of a currency pair. The indicator can be used to measure the most volatile times of the day and the most active hours of trading. The Daily Range Indicator is easy to use and can be added to any MT4 chart. It displays the daily range of a currency pair based on the high and low of the previous day. The indicator also shows the maximum and minimum range of the day and the average range of the last five days. This information can be used to pinpoint the most volatile times of the day and the most active hours of trading. Overall, the Daily Range Indicator is a useful and free Forex indicator for MT4. It can be used to identify the most volatile times of the day and the most active hours of trading. It can also be used to identify potential entry and exit points in the market, as well as to identify potential support and resistance levels.
The Daily Range Indicator is a free and popular Forex indicator for MetaTrader 4 (MT4) that helps traders identify and capitalize on the intraday volatility of the Forex market. The indicator tracks the daily high and low prices of the currency pair and displays them on the chart, making it easier for traders to identify the daily range of the currency pair. The indicator is also useful for scalping and swing trading strategies. The Daily Range Indicator is a versatile tool that can be used by both novice and experienced traders.
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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.