The Fib SR indicator is a free and popular MT4 forex indicator that can be used to identify key support and resistance levels on any currency pair. This indicator uses Fibonacci levels to identify potential areas of support and resistance. It plots horizontal lines on the chart at the Fibonacci levels of 0.382, 0.5, 0.618, and 0.786. These lines can be used to identify potential areas of support and resistance. The indicator also plots a vertical line at the current price level. This line can be used to identify the current trend. The Fib SR indicator is easy to use and can be a useful tool for traders looking to identify key support and resistance levels. To use the indicator, simply add it to your chart and look for horizontal lines at the Fibonacci levels. If the price is above the 0.382 line, it is likely in an uptrend. If the price is below the 0.618 line, it is likely in a downtrend. It is easy to use and can be a valuable tool for traders looking to identify potential areas of support and resistance.
MT4
FIB SR Indicator
The Fib SR Indicator is a popular and free Forex indicator for MT4, which is used by many traders to identify important support and resistance levels. This indicator uses Fibonacci levels to automatically draw support and resistance lines on the chart, making it easy to spot potential entry and exit points. This makes it a useful tool for both beginners and experienced traders alike.
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Description
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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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